Sun Pharmaceutical Industries Limited , India's largest drugmaker, said on Thursday it will acquire U.S.-based Concert Pharmaceuticals for $576 million in cash to gain access to its experimental drug for treating patchy baldness.
The deal is the Indian drugmaker's biggest since its $3.2 billion acquisition of generic drugmaker Ranbaxy Laboratories Ltd in 2014, according to Refinitiv data.
Sun Pharma offered Concert $8 per share, representing a premium of 16% to the stock's last close. Shares of the Massachusetts-based biopharma were trading up 19.4% at $8.24 in early trading.
https://finance.yahoo.com/news/1-indias-sun-pharma-acquire-132434367.html
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