Sun Pharmaceutical Industries Ltd.

Sun Pharmaceutical Industries has executed definitive agreements through its wholly owned subsidiary for the acquisition of 100% of Ocular Technologies, Sarl (OTS), a portfolio company of Auven Therapeutics (Auven), an international private equity company focused on accelerated development of breakthrough therapeutic drugs.

OTS owns exclusive, worldwide rights to Seciera (cyclosporine A, 0.09% ophthalmic solution). Sun Pharma will pay Auven $40 million upfront, plus contingent development milestones and sales milestones as well as tiered royalty on sales of Seciera as consideration for this acquisition.

The transaction is subject to approval of the US Federal Trade Commission as required under the Hart-ScottRodino Act and other closing conditions, and is expected to be completed by end of 2016.

Sun Pharma is the world's fifth largest specialty generic pharmaceutical company and India's top pharmaceutical company.