Sun Pharmaceutical Industries Ltd.

Sun Pharmaceutical Industries has entered into agreement to acquire around 16.7% shares on fully diluted basis, in Lyndra Therapeutics, Inc., a company based in Massachusetts, engaged in the business of developing novel delivery technology for long-acting oral (LAO) therapies.

This strategic investment is to support development of innovative pharmaceutical delivery technologies and get access to the technology for certain molecules and territories. Cost of acquisition is $30 million. 

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