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Sep, 11 2018

Sun Pharma to acquire 18.75% stake in Israel’s Tarsius Pharma

Sun Pharmaceutical Industries Ltd will buy 18.75% stake in Israel's Tarsius Pharma Ltd for $3 million in cash.

Sun Pharmaceutical Industries Ltd, India’s biggest drugmaker, will buy 18.75% stake in Israel's Tarsius Pharma Ltd for $3 million in cash.

The company said, “One of its wholly-owned subsidiaries has agreed to acquire 3,45,622 ordinary shares of Tarsius Pharma, of nominal value of NIS 0.01 each by way of subscription, representing 18.75 per cent of shares of Tarsius on a fully diluted basis.”

"Cost of acquisition is $3 million," Sun Pharma added. 

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