Sun Pharma to acquire Daiichi's 11.28% stake in Zenotech for Rs.5.3 Cr

Sun Pharmaceutical Industries is to acquire Japan-based Daiichi Sankyo Company's 11.28% stake in Zenotech Laboratories. Sun Pharma will pay INR 5.32 crore for the stake. The objective of the transaction is to consolidate Sun's holding in Zenotech Laboratories. After the acquisition, Sun Pharma's stake in Zenotech will increase from 57.56% to 68.84%. The acquisition is expected to complete in 30 days.