Sun Pharmaceutical Industries Ltd.

Sun Pharmaceutical Industries has entered into an agreement with US based Pharmazz Inc., pursuant to which Sun Pharma has agreed to invest up to $25 milion in Pharmazz Inc. The investment triggers conversion of earlier investment through Simple Agreement for Future Equity (SAFE) resulting in aggregate stake of up to around 22.7% in Pharmazz on fully diluted basis. 

The first tranche of $10 million, along with the balance of $7.5 million out of SAFE tranche 2 investment, will be invested on or before May 31, 2025. The second tranche of $15 million will be invested on or before November 30, 2025 or such other mutually agreed date. 

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