Sun Pharma to sell two marketing divisions to Strides Arcolab

MUMBAI (Reuters) - Sun Pharmaceutical Industries Ltd, India's top drugmaker by sales, said on Saturday it had agreed to sell two divisions marketing central nervous system drugs to Strides Arcolab Ltd for 1.65 billion rupees ($25 million).

Sun Pharma, which last year bought domestic peer Ranbaxy Laboratories Ltd, in July said it may sell low-margin businesses it deemed do not hold long-term value.

Under the latest deal, Strides Arcolab will take over Ranbaxy's Solus and Solus Care divisions, Sun Pharma said in a statement.

($1 = 65.8582 rupees)

(Reporting by Devidutta Tripathy; Editing by Christopher Cushing)