For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

Sun Pharma's Subsidiary Taro Pharma To Acquire Canada's Aquinox Pharma

By Staff
|

On Wednesday, in a stock exchange filing, Sun Pharma said that a subsidiary of its American arm Taro Pharmaceutical will acquire Canada's Aquinox Pharmaceutical for $8.2 million (approx Rs 61.35 crore) in cash.

Sun Pharma's Subsidiary Taro Pharma To Acquire Canada's Aquinox Pharma
 

Aquinox Pharmaceuticals is a corporation organised and existing under the laws of the Province of British Columbia that carries on the business of research and development of pharmaceutical products for purposes of their commercialisation.

"One of the wholly-owned subsidiaries of our subsidiary company, Taro Pharmaceutical Industries, has agreed to acquire by way of purchase of all outstanding shares of Aquinox Pharmaceuticals (Canada)," Sun Pharma said in a regulatory filing.

It said that 100% shareholding, constituting equity shares and non-voting preferred shares, will be acquired.

A cash consideration of $8.2 million will be paid for acquisition of all shares of Aquinox Pharmaceutical, Sun Pharma said. The transaction is expected to be completed by the end of the month.

Shares of Sun Pharma were trading higher after the announcement.

Read more about: sun pharma
Story first published: Wednesday, July 29, 2020, 12:05 [IST]
Company Search
Get Instant News Updates
Enable
x
Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more