Sun Pharma acquires US-based Pharmalucence

Sun Pharma shares were trading at Rs 748.30, up 1.30 percent from its previous close.

PTI| Last Updated: Jul 16, 2014, 10:37 AM IST

New Delhi: Drug major Sun Pharmaceutical Industries has acquired US-based Pharmalucence Inc for an undisclosed amount.

Pharmalucence, which has sterile injectable capacity in the US, has been acquired by one of the subsidiaries of Sun Pharma, the Mumbai-based firm said in a statement on Wednesday.

The company, however, did not disclose the financial details of the deal.

Earlier this year, Sun Pharma had acquired Ranbaxy Laboratories in an all-stock transaction with a total equity value of USD 3.2 billion along with debt of USD 800 million, taking the overall deal value to USD 4 billion.

Sun Pharma shares were trading at Rs 748.30, up 1.30 percent from its previous close.