Sun Pharmaceutical Industries has entered into an agreement with HaystackAnalytics (Haystack), pursuant to which Sun Pharma has agreed to acquire 9.6% of total outstanding securities. Cost of acquisition is Rs 33 crore. The said acquisition is expected to be completed by July 2024 subject to satisfactory completion of certain conditions.
Haystack is engaged in the business of developing genomic analysis software that enables clinical decision-making through culturefree, comprehensive, and fast clinical genomics by automating bioinformatic analysis to produce clear and clinically relevant reports and utilization of the genomic data and their analysis for creation of new products for healthcare.
Sun Pharmaceutical Industries is the world's fourth largest specialty generic pharmaceutical company and India's top pharmaceutical company.
