Categories: Business

Sun Pharma partner Taro Pharma announces acquisition of Aquinox Pharma, will spend $ 82 million

Photo: THEHINDUBUSINESSLINE

Taro Pharma to acquire Canada’s Aquinox Pharmaceutical for USD 8.2 million

New Delhi Pharmaceutical company Sun Pharma said on Wednesday that its US arm Taro Pharmaceutical would acquire Aquinox Pharmaceutical of Canada in a cash deal of $ 82 million (about Rs 61.35 crore). Aquinox Pharmaceutical is a company formed under the law of the Province of British Columbia. It conducts research and development business in the field of pharmaceutical products and then uses it commercially.

Sun Pharma has stated in a regulatory notice that a wholly owned subsidiary of our subsidiary Taro Pharmaceutical Industries has agreed to purchase all the shares of Aquinox Pharmaceuticals (Canada). The company has said that 100 percent shareholding will be acquired under the deal. It will also acquire equity shares as well as non-voting preference shares.

Sun Pharma said that $ 82 million would be paid for the acquisition of all shares of Aquinox Pharmaceutical. The deal will be completed soon.

This post was published on July 29, 2020 1:53 pm

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