Sun Pharma to acquire US-based Concert Pharmaceuticals for $576 million

Deal size could expand to $827 mn if additional milestone-based payments are made

 

India’s largest drugmaker by market share in the domestic pharmaceutical (pharma) market has stepped up its game in the US dermatology space with the acquisition of Concert Pharmaceuticals, Inc. (Concert), a Nasdaq-listed firm, for $576 million.

 

Concert is a biotechnology firm with an extensive patent portfolio. Its lead product candidate is deuruxolitinib, an oral drug for the treatment of alopecia areata, an autoimmune dermatological disease in late-stage development.

 

The deal size could expand up to $827 million (roughly Rs 6,800 crore) if the additional milestone-based payments are made.

 

Sun Pharmaceutical Industries (Sun Pharma) informed stock exchanges after market hours on Thursday that it