Sun Pharma Buys Mumbai-Based Innovcare Lifesciences in Rs 271 Crore Deal
Mumbai: Sun Pharmaceutical Industries Limited has announced the acquisition of Innovcare Lifesciences Private Limited, a Mumbai-based pharmaceutical company engaged in the marketing, distribution, and sale of pharmaceutical drugs, nutraceuticals, and cosmeceutical products. The acquisition will be carried out through the purchase of 100% of Innovcare's outstanding shares.
According to the filing, Sun Pharma has entered into an agreement to acquire the entire shareholding of Innovcare Lifesciences as part of a strategic initiative to strengthen its product portfolio.
Innovcare Lifesciences is headquartered in Mumbai and operates in the pharmaceuticals and healthcare sector. The company is involved in the marketing, distribution, and sale of pharmaceutical drugs, nutraceutical products, and cosmeceutical formulations. For the financial year 2025-26, Innovcare reported revenue from operations of Rs 94.06 crore.
Under the terms of the transaction, Sun Pharma will acquire 100% of the outstanding shares of Innovcare for a cash consideration of approximately Rs 271.2 crore. The acquisition is not a related-party transaction, and Sun Pharma stated that neither its promoter nor promoter group has any interest in the entity being acquired.
The company further clarified that no governmental or regulatory approvals are required for the acquisition. The transaction is expected to be completed on or before July 31, 2026.
Innovcare Lifesciences was incorporated on July 21, 2014, and has recorded consistent revenue growth over the past three financial years. The company reported revenue from operations of Rs 80.93 crore in FY 2023-24, Rs 86.09 crore in FY 2024-25, and Rs 94.06 crore in FY 2025-26. The company currently has its business presence in India.
Sun Pharma stated that the acquisition aligns with its strategy to enhance and diversify its product offerings. By integrating Innovcare's portfolio and operations, the company aims to strengthen its position in the pharmaceuticals and healthcare segment and expand its market presence.
According to the regulatory filing submitted by Sun Pharmaceutical Industries Limited, the acquisition is being undertaken as a strategic investment to strengthen the company's product portfolio. The filing noted that the transaction will be completed through a cash consideration arrangement and involves the acquisition of the entire share capital of Innovcare Lifesciences Private Limited.
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