The largest Indian drugmaker, Sun Pharmaceuticals Industries Ltd, on 16 September 2015 entered into a deal to acquire US-based InSite Vision Inc. for about 300 crore rupees.
As per the terms of the agreement and merger plan, an indirect wholly owned subsidiary of Sun Pharma will make a tender offer for all of the issued and outstanding common stock of InSite Vision at 0.35 US dollars per share in cash.
About Sun Pharma
Sun Pharma was established in 1983 by Dilip Shanghvi in Vapi, Gujarat. Headquartered in Mumbai, the company manufactures and sells pharmaceutical formulations and active pharmaceutical ingredients in India, US and across the world.
The Chairman of the Sun Pharma is Israel Makov. Dilip S. Shanghvi is the founder-cum-Managing Director of the company.
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Who: Sun Pharma
When: 16 September 2015