The company's wholly-owned subsidiary, Sun Pharma (Netherlands) BV, has increased its shareholding in PJSC Biosintez by way of purchase of 33,958 shares, equivalent to 11.86 per cent stake under mandatory tender offer, Sun Phrarmaceuticals Industries said in a regulatory filing.
The cost of acquisition or the price at which the shares were acquired was Rubles 21,15,82,11,060 equivalent to USD 32,17,000.3 (Rs 22.39 crore), it added.
After the completion of this purchase of shares, the total holding of wholly-owned subsidiary was increased from 85.10 per cent to 96.96 per cent in the Russian firm, it added.
The company's products include pharmaceuticals for injections, blood substitutes, blood preservatives, ampoules, tablets, ointment, creams, gels, suppositories and API among others, the filing added.
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