Sun Pharma up 2%, hits fresh 52-week high on US firm acquisition
According to a PTI report, Pharmalucence, which has sterile injectable capacity in the US, has been acquired by one of the subsidiaries of Sun Pharma.
By ET Online | Updated:
NEW DELHI: Drug major Sun Pharmaceutical Industries rallied as much as 1.93 per cent to hit its fresh 52-week high of Rs 753 in trade today, after company's subsidiary acquired US-based Pharmalucence Inc for an undisclosed amount.
According to a PTI report, Pharmalucence, which has sterile injectable capacity in the US, has been acquired by one of the subsidiaries of Sun Pharma. 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 $3.2 billion along with debt of $800 million, taking the overall deal value to $4 billion, the report added.
At 1:09 p.m. Sun Pharma shares were trading at Rs 741.90, up 0.45 per cent on the BSE. It hit a high of Rs 753 and a low of Rs 739.25 in trade today.
According to a PTI report, Pharmalucence, which has sterile injectable capacity in the US, has been acquired by one of the subsidiaries of Sun Pharma. 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 $3.2 billion along with debt of $800 million, taking the overall deal value to $4 billion, the report added.
At 1:09 p.m. Sun Pharma shares were trading at Rs 741.90, up 0.45 per cent on the BSE. It hit a high of Rs 753 and a low of Rs 739.25 in trade today.
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