Sun Pharma enters Japanese ‪market; buys 14 brands from Novartis

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Drug major Sun Pharma has forayed into the Japanese prescription market by acquiring 14 brands from Swiss drug firm Novartis for USD 293 million (over Rs 1,940 crore).

According to the agreements signed by the parties, a wholly-owned subsidiary of Sun Pharma will acquire the portfolio consisting of 14 established prescription brands from Novartis for a cash consideration of USD 293 million, Sun Pharma said in a statement.

Sun Pharma Stock Price:

On March 29, 2016, Sun Pharmaceutical Industries closed at Rs 794.05, up Rs 0.00, or 0.00 percent. The 52-week high of the share was Rs 1200.70 and the 52-week low was Rs 706.40.

The latest book value of the company is Rs 94.62 per share. At current value, the price-to-book value of the company was 8.39.