Acquisition of JSC Biosintez

Sun Pharma acquires Russian company for $60 million

Question: Recently which of the following company has entered into an agreement to acquire Russian pharma company JSC Biosintez for $24 million?
a) Ranbaxy India Ltd
b) Cadila Pharmaceutical Ltd
c) Cipla Ltd.
d) Sun Pharmaceutical Industries Ltd.
Ans: (d)
Related facts:

  • On 23 November 2016 Sun Pharmaceutical Industries Ltd has entered into an agreement to acquire Russian pharma company JSC Biosintez for $24 million.
  • Sun Pharma picked up 85.1% of the company for US$ 24 million and also the debt of approximately US$ 36 million as part of the transaction.
  • Biosintez is a Russian pharmaceutical company focusing on the hospital segment with annual revenues of approximately US$ 52 million for 2015 .
  • Sun Pharmaceutical Industries Limited is an Indian multinational pharmaceutical company headquartered in Mumbai, Maharashtra.
  • It manufactures and sells pharmaceutical formulations and active pharmaceutical ingredients (APIs) primarily in India and the United States.
  • It is the 5th largest specialty generic company globally.

Reference:
http://www.sunpharma.com/media/press-releases
http://www.business-standard.com/article/companies/sun-pharma-acquires-russian-company-for-60-million-116112300199_1.html
http://economictimes.indiatimes.com/industry/healthcare/biotech/pharmaceuticals/60-million-deal-sun-pharma-to-acquire-russian-company-jsc-biosintez/articleshow/55576458.cms