Indian pharmaceutical company Sun Pharmaceutical Industries Limited (NSE:SUNPHARMA) (BSE:524715) confirmed on Monday that it has completed its merger with Taro Pharmaceutical Industries Ltd (NYSE:TARO), an Israeli research-based pharmaceutical company.

Sun acquired all outstanding Taro shares, making Taro a wholly-owned subsidiary. This strengthens Sun Pharma's position in the competitive generics market by combining their strengths and capabilities.

Sun has been Taro's majority shareholder since 2010.