 "Sun Pharma stock gains on possible acquisition of US company")
Sun Pharmaceutical stock rose a percent on Tuesday on report of possible acquisition of US-based eye care specialty company InSite Vision Inc. The stock closed 1.11 percent higher at Rs 866.70.
According to a media report the deal if materialises could be worth about Rs 300 crore. It added InSite Vision Inc had entered into a sale agreement with Canadian company QLT but the agreement allowed the ophthalmic product maker to negotiate with other companies if the bid amount is higher.
"Sun Pharma does not comment on market speculations," a company spokesperson said.
InSite Vision develops novel ophthalmic products designed to treat a growing range of common eye problems, including ocular infection, pain and inflammation in ocular surgery, and glaucoma, according to its website.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app