Sun Pharmaceutical Industries Ltd has announced its plans to acquire Indi Pharma’s stake in its Mexican unit. The pharmaceutical giant is set to purchase the remaining 25% stake held by Indi Pharma in Sun Pharma de Mexico, SA de CV, at a cost of MXN 161.85 million (approximately Rs 75 crore). This move is expected to solidify Sun Pharma’s presence in the Mexican pharmaceutical market and enhance its global footprint. Let’s delve into the details of this acquisition.
Sun Pharmaceutical Industries has officially entered into a binding letter of intent to acquire the outstanding 25% shares of Sun Pharma de Mexico, SA de CV. Currently, Sun Pharma holds a 75% stake in the subsidiary, with the remaining 25% owned by local partner Indi Pharma S.A.P.I. de CV. The acquisition cost stands at MXN 161.85 million.
This strategic maneuver will allow Sun Pharma to gain full control of its Mexican operations, marking a pivotal moment in its expansion journey. The acquisition will be facilitated through Sun Pharma’s wholly-owned subsidiary, Sun Pharma (Netherlands) B.V.
The acquisition is poised to conclude by October 31, 2023, subject to regulatory approvals and customary closing conditions. Once finalized, Sun Pharma de Mexico SA de CV will become a wholly-owned subsidiary of Sun Pharmaceutical Industries Ltd.
Sun Pharma de Mexico, SA de CV, is actively involved in the marketing and distribution of pharmaceutical products in the vibrant Mexican market. This move to acquire the remaining stake aligns with Sun Pharma’s commitment to delivering high-quality healthcare solutions to customers worldwide.
About Sun Pharma:
Sun Pharmaceutical Industries is engaged in the business of manufacturing, developing and marketing a wide range of branded and generic formulations and Active Pharma Ingredients (APIs). The company and its subsidiaries has various manufacturing facilities spread across the world with trading and other incidental and related activities extending to global market. It is the largest pharmaceutical company in India.
For more of the Latest News, Click Here