Sun Pharma to buy 60 percent stake in Vivaldis Health and Foods for Rs 143 crore
Mumbai: Pharma major, Sun Pharmaceutical Industries Limited, has entered into an agreement to acquire 60 percent shareholding in Vivaldis Health And Foods Private Limited from its existing shareholders with the remaining 40 percent shareholding to be acquired in the future as per certain terms and conditions.
"The cost of acquisition is Rs 143.30 crores subject to customary closing adjustments for 60 percent shareholding," the company stated in a recent BSE filing. The company expects to complete the said acquisition by the end of May 2023.
Medical Dialogues team had earlier reported that Sun Pharmaceutical Industries Limited had successfully completed the acquisition of Concert Pharmaceuticals, Inc., a late-stage clinical biopharmaceutical company.
Sun Pharma is an Indian multinational pharmaceutical company headquartered in Mumbai, Maharashtra. The company manufactures 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), Active Pharmaceutical Ingredients (APIs) and Intermediates.