Sun Pharmaceutical Industries’ wholly owned subsidiary company -- Taro Pharmaceutical Industries has agreed to acquire by way of purchase of all outstanding shares of Aquinox Pharmaceuticals (Canada) Inc., a corporation organized 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 commercialization. Cash consideration of $8.2 million would be paid for acquisition of all shares.
Sun Pharma is the world's fourth largest specialty generic pharmaceutical company and India's top pharmaceutical company.
