Sun Pharma acquires 14.58% stake in scPharmaceuticals for $13 mn
Drugmaker Sun Pharmaceutical Industries Ltd has acquired a stake in US-based pharmaceuticals company scPharmaceuticals Inc for $13 million,Sun Pharma has acquired 1,300,000 Series B preferred stock in the entity through one of its wholly owned subsidiaries. The investment translates to 14.58 % fully diluted equity stake upon conversion, it said in a statement. Sun Pharma is India’s largest drug manufacturer and has a market capitalisation of around Rs 1.5 lakh crore on Friday, according to Bombay Stock Exchange. The fifth largest specialty generics maker in the world has consolidated revenues of around $4.5 billion.