M&A: Sun Pharma acquires US-based InSite Vision for Rs 300 cr

The acquisition is a part of its overall objective of transitioning to a specialty company

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(Photo Courtesy: www.allenovery.com)

Sun Pharmaceutical Industries announced that one of its subsidiary has entered into a merger agreement with California-based InSite Vision for Rs 300 crore ($48 million).

The acquisition is expected to close in the fourth-quarter of 2015.

InSite is engaged in developing new specialty ophthalmic products.

Sun Pharma, in a statement said that it is in the process of establishing a branded ophthalmic business in the US.

"This proposed acquisition of InSite Vision and the recent in-licensing of Xelpros in June 2015 are steps in this direction," it said.

 

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