Wednesday, 23 November 2016

Sun Pharma acquires Russian company for $60 million | Stock Trading News

Sun Pharmaceuticals Industries Ltd, the largest drug maker in India, may move on Wednesday after it announced of entering into a definitive agreements to acquire 85.1% stake in JSC Biosintez, a Russian Pharmaceutical company at $24 million.

The acquisition will be executed through subsidiary companies, Sun Pharma said Wednesday in a statement to the stock exchanges.
The company would also assume a debt of nearly $36 million for this acquisition.

On Tuesday, Sun Pharmaceuticals Industries fell 0.17% to Rs 689.20 at the close of Stock trading on the National Stock Exchange.

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