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Business
Sun Buys Chattem For Narcotics Plant
by Michael McCoy
December 1, 2008
| A version of this story appeared in
Volume 86, Issue 48
India's Sun Pharmaceutical Industries has acquired Elcat's Chattem Chemicals subsidiary, a manufacturer of pharmaceutical and specialty chemicals. Chattem, which has annual sales of about $26 million, operates a facility in Chattanooga, Tenn., that is registered with the U.S. Drug Enforcement Agency as an importer of narcotic raw materials, such as raw opium. In 2005, Sun acquired a similar controlled-substances facility in Hungary.
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