Sun Pharma Acquires Stake in US-Based Pharmazz Inc

Sun Pharmaceutical Industries has acquired over a 5 percent stake in US-based Pharmazz Inc for $15 million. The investment will be made in two tranches of $7.5 million each, subject to certain conditions. This marks a strategic expansion for the Mumbai-based drug manufacturer.

Sun Pharmaceutical Industries announced on Wednesday that it has acquired over a 5 percent stake in US-based Pharmazz Inc for $15 million.

The Mumbai-based pharmaceutical giant will invest the sum in two tranches of $7.5 million each, subject to certain conditions, according to a regulatory filing.

This move is seen as a strategic expansion by Sun Pharma into the US market.

(With inputs from agencies.)