Sun Pharmaceutical Industries acquires over 5% stake in US-based Pharmazz Inc. for USD 15 million, investing in two tranches subject to certain conditions.
Photograph: Francis Mascarenhas/Reuters
New Delhi, Aug 14 (PTI) Sun Pharmaceutical Industries on Wednesday said it has acquired over 5 per cent stake in US-based Pharmazz Inc for USD 15 million.
The company has agreed to invest up to USD 15 million, resulting in more than 5 per cent holding in Delaware-based Pharmazz Inc., the Mumbai-based drug major said in a regulatory filing.
The company will invest USD 15 million in two tranches of USD 7.5 million each, subject to the fulfilment of certain conditions, it added.
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