Advertisement
trendingNowenglish1961020https://zeenews.india.com/companies/sun-pharma-subsidiary-invests-14-6-stake-in-us-company-for-13-million_1961020.html

Sun Pharma subsidiary invests 14.6% stake in US company for $13 million

Pharamceutical major Sun Pharma's subsidiary has invested USD 13 million (about Rs 88 crore) in the US-based scPharmaceuticals Inc, announced the company on Friday.

Sun Pharma subsidiary invests 14.6% stake in US company for $13 million

New Delhi: Pharamceutical major Sun Pharma's subsidiary has invested USD 13 million (about Rs 88 crore) in the US-based scPharmaceuticals Inc, announced the company on Friday.

"...One of the wholly-owned subsidiaries of the company has acquired 13,000,000 Series B preferred stock of scPharmaceuticals Inc (equivalent to 14.58 per cent fully diluted equity stake on conversion) by way of allotment," Sun Pharmaceutical Industries said in a BSE filing.

It further said: "Consideration for Series B preferred stock acquired is USD 13 million."

ScPharmaceuticals Inc is a United States-based pharmaceutical company developing a portfolio of transformative pharmaceutical products for subcutaneous delivery.

With PTI Inputs

Stay informed on all the latest news, real-time breaking news updates, and follow all the important headlines in india news and world News on Zee News.

NEWS ON ONE CLICK