Sun Pharmaceutical Industries Ltd.

Sun Pharmaceutical is currently trading at Rs 715.20, up by 12.60 points or 1.79% from its previous closing of Rs 702.60 on the BSE.

The scrip opened at Rs 706.00 and has touched a high and low of Rs 736.00 and Rs 706.00 respectively. So far 48,000 shares were traded on the counter.

The BSE group 'A' stock of face value Rs 1 has touched a 52 week high of Rs 736.00 on 11 Dec-2012 and a 52 week low of Rs 488.25 on 02-Jan-2012.

Last one week high and low of the scrip stood at Rs 736.00 and Rs 693.60 respectively. The current market cap of the company is Rs 74,602 crore.

The promoters holding in the company stood at 63.69% while Institutions and Non-Institutions held 25.63% and 10.69% respectively.

Sun Pharmaceutical Industries and its subsidiaries, Sun Pharma has entered into a definitive agreement with DUSA Pharmaceuticals, Inc.  Under this agreement Sun Pharma will acquire DUSA, a dermatology company focused on developing and marketing its Levulan (aminolevulinic acid HCl) photodynamic therapy platform.

DUSA’s Levulan combination therapy is approved by FDA for treatment of non-hyperkeratotic actinic keratoses or AKs of the face or scalp.  Additionally, DUSA’s BLU-U treatment has been approved by FDA for the treatment of moderate inflammatory acne vulgaris and general dermatological conditions. Levulan is manufactured by DUSA in its FDA approved facility at Wilmington, MA.

Under the terms of the agreement, a 100% subsidiary of Sun Pharmaceutical Industries will commence a tender offer for all of the outstanding common stock of DUSA at a price of $8.00 per share in cash, a 38% premium to the closing price of DUSA’s common stock on November 7, 2012.

The transaction has a total cash value of approximately $230 million. The transaction has been unanimously approved by the boards of directors of both companies and DUSA’s board has recommended that the company’s shareholders tender their shares pursuant to the tender offer.