Sun Pharma today said it has completed the acquisition of the US-based eye care specialist Ocular Technologies Sarl.
“All the necessary formalities for a closure of the said transaction have been concluded and the company has successfully completed the acquisition of Ocular Technologies Sarl, on December 15, 2016,” Sun Pharmaceutical Industries said in a BSE filing.
In October this year, Sun Pharma announced an acquisition of 100 per cent equity stake in Ocular Technologies Sarl, owned by the private equity firm Auven Therapeutics, for a front payment of USD 40 million.
Sun Pharma will also pay more contingent on meeting drug development and sales milestones as well as a tiered royalty on sales of Seciera for the company for accelerated development of breakthrough therapeutic drugs.
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Source: Economic Times
