SENSEX   27034.50    -274.10  (-1.01%)       |  NIFTY   8349.35    -85.75  (-1.03%)  |  Gold   28630.00    102.00  (0.36%)    |  Silver  41386.00   116.00 (0.28%)

Latest News:

Sun Pharma arm picks up 14.6% stake in US firm for $13 mn

By
dilip sanghavi, sun pharama, suzlon

New Delhi: Sun Pharma subsidiary has invested $13 million (about Rs. 88 crore) in the US-based scPharmaceuticals Inc.

“...One of the wholly-owned subsidiaries of the company has acquired 13,000,000 Series B preferred stock of scPharmaceuticals Inc (equivalent to 14.58 per cent fully diluted equity stake on conversion) by way of allotment,” Sun Pharmaceutical Industries said in a BSE filing today.

It further said: “Consideration for Series B preferred stock acquired is $13 million.”

scPharmaceuticals Inc is a United States-based pharmaceutical company developing a portfolio of transformative pharmaceutical products for subcutaneous delivery.

Sun Pharma stock was trading 2.59 per cent higher at Rs. 625 on the BSE.

Comments (0)

No comments yet.


Leave a comment

(required)

No trackbacks yet.

??????