Sun Pharmaceutical Industries Ltd.

Sun Pharmaceutical Industries has inked a pact to acquire US-based Concert Pharmaceuticals in a $576 million (around Rs 4,688 crore) deal. The companies have executed a definitive agreement under which Sun Pharma will acquire all outstanding shares of Concert through a tender offer for an upfront payment of $8 per share of common stock in cash.

The upfront payment of $8 per share of common stock in cash represents a premium of around 33 per cent to Concert’s 30-day volume weighted average price as of January 18, 2023. Concert stockholders will also receive a non-tradeable contingent value right (CVR) entitling holders to receive up to an additional $3.50 per share of common stock in cash, payable upon deuruxolitinib achieving certain net sales milestones within specified periods. Concert is a late-stage biotechnology company pioneering the use of deuterium in medicinal chemistry.

Sun Pharmaceutical Industries is the world's fourth largest specialty generic pharmaceutical company and India's top pharmaceutical company.