Sun Pharma acquires US-based Pharmalucence

Sun Pharmaceutical Industries, India's third-largest generic drugmaker by sales, has acquired US-based Pharmalucence Inc.

Pharmalucence has sterile injectable capacity and research capabilities. Financial details of the deal were not disclosed.

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.

(Reuters)