Lyndra Therapeutics in deal with Sun Pharma for $30 mn
On the reasons for the acquisition, Sun Pharma said it is a strategic investment to support the development of innovative pharmaceutical delivery technologies and get access to the technology for certain molecules and territories.
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NEW DELHI: Sun Pharmaceutical Industries Ltd on Monday said it will acquire a 16.7 per cent stake in US-based Lyndra Therapeutics, Inc. for $30 million (nearly Rs 250 crore).
The company has entered into an agreement to acquire 16.7 per cent shares on a fully diluted basis, in Lyndra Therapeutics Inc, based in Massachusetts, engaged in the business of developing novel delivery technology for long-acting oral therapies, Sun Pharmaceutical Industries said in a regulatory filing.
On the reasons for the acquisition, Sun Pharma said it is a strategic investment to support the development of innovative pharmaceutical delivery technologies and get access to the technology for certain molecules and territories.