Sun Pharmaceuticals Industries announced that one of the wholly owned subsidiaries of its subsidiary company, Taro Pharmaceutical Industries, has agreed to acquire by way of purchase of all outstanding shares
of Aquinox Pharmaceuticals (Canada) Inc., a corporation organized and existing under the laws of the Province of British Columbia that carries on the business of research and development of pharmaceutical products for purposes of their commercialization.
The indicative time period for completion of the acquisition is 31 July 2020. The cost of acquisition for 100% stake holding is USD 8.2 million.
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