Sun Pharm acquires over 5 pc stake in US-based Pharmazz for USD 15 mn

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. PTI MSS BAL BAL