Sun Pharma to acquire Daiichi's 11.28 percent stake in Zenotech
After the acquisition, Sun Pharma's stake in Zenotech will increase from 57.56 percent to 68.84 percent.
New Delhi: Sun Pharmaceutical Industries on Monday said it has entered into a share purchase agreement with Japan's Daiichi Sankyo Company to acquire the latter's 11.28 percent stake in Zenotech Laboratories. Sun Pharma said it will pay ₹5.32 crore for the stake.
The primary objective of the transaction from acquirer's perspective is to consolidate its holding in the target company, the Mumbai-based drug firm said in a regulatory filing.
After the acquisition, Sun Pharma's stake in Zenotech will increase from 57.56 percent to 68.84 percent, it added.
Sun Pharmaceutical Industries Ltd. (Sun Pharma) is the fourth largest specialty generic pharmaceutical company in the world with global revenues of over US$ 4.5 billion. Supported by more than 40 manufacturing facilities, we provide high-quality, affordable medicines, trusted by healthcare professionals and patients, to more than 100 countries across the globe.
Sun Pharma manufacture and markets a large basket of pharmaceutical formulations covering a broad spectrum of chronic and acute therapies. It includes generics, branded generics, specialty, complex or difficult to make technology-intensive products, over-the-counter (OTC), antiretrovirals (ARVs), The first among Indian pharmaceutical companies to realise and embrace the importance of investing in research, we invest up to 7-8% of our global revenues into Research and Development (R&D) every year. The core strength lies in our ability to excel in developing generics and technologically complex products backed by our dedicated teams in formulations, process chemistry, and analytical development.
The company's capabilities extend beyond the development of differentiated products, including liposomal products, inhalers, lyophilized injections, nasal sprays, and controlled release dosage forms. The R&D is led by a strong team of more than 2000 scientists.
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