Sun Pharma arm picks up 14.6 per cent stake in US company for $13 mn
scPharmaceuticals Inc is a United States-based pharmaceutical company developing a portfolio of transformative pharmaceutical products for subcutaneous delivery.
- Dec 23, 2016,
- Updated Dec 23, 2016 1:19 PM IST
Sun Pharma today said its subsidiary has invested USD 13 million (about Rs 88 crore) in the US-based scPharmaceuticals Inc.
One of the wholly-owned subsidiaries of the company has acquired 13,000,000 Series B preferred stock of scPharmaceuticals Inc (equivalent to 14.58 per cent fully diluted equity stake on conversion) by way of allotment, Sun Pharmaceutical Industries said in a BSE filing.
It further said: Consideration for Series B preferred stock acquired is USD 13 million.
scPharmaceuticals Inc is a United States-based pharmaceutical company developing a portfolio of transformative pharmaceutical products for subcutaneous delivery.
The stock of Sun Pharma was trading 2.59 per cent higher at Rs 625 on BSE.
Sun Pharma today said its subsidiary has invested USD 13 million (about Rs 88 crore) in the US-based scPharmaceuticals Inc.
One of the wholly-owned subsidiaries of the company has acquired 13,000,000 Series B preferred stock of scPharmaceuticals Inc (equivalent to 14.58 per cent fully diluted equity stake on conversion) by way of allotment, Sun Pharmaceutical Industries said in a BSE filing.
It further said: Consideration for Series B preferred stock acquired is USD 13 million.
scPharmaceuticals Inc is a United States-based pharmaceutical company developing a portfolio of transformative pharmaceutical products for subcutaneous delivery.
The stock of Sun Pharma was trading 2.59 per cent higher at Rs 625 on BSE.