Corporate Updates

Sun Pharma acquires US-based Pharmalucence

Sun Pharmaceutical Industries Ltd, India’s third-largest generic drug-maker by sales, has acquired US-based Pharmalucence Inc.

Pharmalucence has sterile injectable capacity in the US, supported by strong R&D capabilities.

Earlier this year, Sun Pharma had acquired Ranbaxy Laboratories in an all-stock transaction with a total equity value of $3.2 billion along with debt of $800 million, taking the overall deal value to $4 billion.

Sun Pharma shares were trading at Rs 748.30 in early trade on Wednesday, up 1.30 per cent from its previous close.

Source: Reuters

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