Sun Pharma shares fall over talks to buy Sweden's Meda

Sun Pharmaceutical’s share prices fell as much as 2.23 percent on Monday amidst reports that it is in talks to buy Sweden's Meda AB for over $5 billion.

Updated: Jun 03, 2013, 12:15 PM IST

Zee Media Bureau

New Delhi: Sun Pharmaceutical’s share prices fell as much as 2.23 percent on Monday amidst reports that it is in talks to buy Sweden's Meda AB for over $5 billion.

Sun shares were down 2.23 percent at 11:50 a.m at the Bombay Stock exchange.

Sun shares lost ground on worries that a potential acquisition would reduce Sun Pharma's cash position and increase debt.

Sun Pharma has reported a 23.32 percent increase in consolidated net profit for the January-March quarter.

Mumbai-based Sun is India's most valuable drugmaker, with a market capitalisation of some USD 20 billion, and has made several acquisitions in recent years.

With Agency Inputs