Last Updated : Wednesday, September 12, 2018 00:43:20

Sun Pharma acquires stake in Israeli Pharma Co paying US$3 million

VADODARA (BARODA) | MUMBAI | RAJKOT – In a regulatory filing submitted to the Indian Bourses on Monday, Sun Pharmaceuticals Ltd., said of having acquired 18.75% stake in Israeli Pharma company Tarsius Pharma Ltd.

One of the wholly owned subsidiaries of the Company has agreed to acquire shares of Tarsius Pharma Ltd, (“Tarsius”), Israel, by way of subscription of 345,622 ordinary shares of nominal value of NIS 0.01 each, representing 18.75% of shares of Tarsius, on a fully diluted basis, the filing said.

Tarsius is an Israel based early stage research and development company incorporated on 21st February 2016, focusing on development of drug candidates in the field of Ophthalmology, the filing read.

The transaction expected to be completed before 15th September 2018 does not fall within the related party transaction and will not require any governmental or regulatory approvals, the filing read.

Announcement from the company had hit the exchanges on Monday, after the trading session for the day had come to an end.


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