Pine Shedding Its Needles

We have a 10 year old Pinus Mugo growing in our front garden which up to the past fortnight or so has looked quite healthy with new growths appearing. However, it has suddenly started to loose all of its needles and on closer examination I notice it is covered in caterpillars. So my question is do pines suffer from the same problem as box (box month caterpillar) and, if so, is the treatment the same?