Sun Pharma gained ownership of 85% of Biosintez's equity stake for $26 mn; it also owned a company debt of $36 mn
The funds for the same will come from the Corporate Social Responsibility funds earmarked by the company
The stock rallied 6% to Rs 708 on BSE in early morning trade.
Net profit rises to Rs 2,235 crore in Q2 FY 17 as against Rs 1,028 crore in same period last year
Sales in its largest market, the United States, rose 9%, while those in India rose 11% in emerging markets
Pharma stocks tumble 4% on BSE; Sun Pharma down 7.4%, Dr Reddy's loses 5.6%
Pricing pressures in US market now aggravated by fallout of drug price rise probe
Sun Pharma, Dr Reddy's, Jubilant Life, Strides Shasun, Aurobindo Pharma were down 5% each over possible US probe into cartelisation
Suspense over US election result also weighs on market as stocks fall 3-7 percent
Sun Pharmaceutical Industries on Thursday said it has launched generic versions of Daiichi Sankyo medicines
Sun will also pay more contingent on meeting drug development and sales milestones as well as tiered royalty on sales of Seciera for the company
The comapny's stock was trading at Rs 742, down 0.66 per cent from its previous close, on BSE
This is the second tie-up between the International Centre for Genetic Engineering and Biotechnology and Sun Pharmaceuticals
Sun Pharma will fund and support further development of the vaccine
This is a class III recall initiated voluntarily by Sun
The tablets have been manufactured by Sun Pharma at its Halol plant
The medical reps contend Sun management has been "arbitrarily" transferring them after taking control
After tying up with Nykaa, pharma major plans to sell products online
Firm says treasury team has done a commendable job
Here is an opportunity to get a 13% return in less than a month; the trouble is that the buyback ratio isn't exciting