Sun Pharma
Sun Pharma to acquire 16.33 pc stake in US-based Surgimatix
Sun Pharma on Tuesday said that it has decided to acquire a 16.33% stake in the US-based Surgimatix for US$ 3.05 million.
Subject to fulfilment of certain conditions the acquisition is expected to complete by the end of this month.
"This is to inform that Sun Pharmaceutical Industries Limited (together with its subsidiaries and/or affiliates referred to as “Sun Pharma”), has entered into an agreement with Surgimatix, Inc., pursuant to which Sun Pharma has agreed to acquire 16.33 % shares of Surgimatix, Inc," the pharma company said in a regulatory filing.
Surgimatix is incorporated in the State of Michigan, having its headquarters and registered office at Illinois, US.
The company is engaged in the business of developing a proprietary soft tissue fixation device for laparoscopic hernia repair and other minimally invasive surgeries.
"Surgimatix, Inc is yet to commence its commercial operations," Sun Pharma said in the filing.
(With UNI inputs)
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
Support objective journalism for a small contribution.
