Transaction expected to close by end of 2016
Sun Pharmaceutical Industries has entered into an agreement to acquire 100% equity stake of Ocular Technologies, Sarl. The transaction is subject to approval of the Federal Trade Commission of USA. The transaction is expected to close by end of 2016. The cash consideration includes an upfront payment of USD 40 million, plus contingent development milestones, sales milestones and tiered royalty on sales of the product.Ocular Technologies owns exclusive worldwide rights to Seciera (cyclosporine A, 0.09% ophthalmic solution). Seciera is currently in a phase 3 confirmatory clinical trial for the treatment of Dry Eye Disease. This product is yet to be commercialised and hence its turnover is nil since last three years.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
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