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Sun Pharma to buy 17% stake in US based Lyndra Therapeutics for $30-M

BSE Disclosure  

Publicly-listed Sun Pharmaceutical Industries Limited is to acquire a 16.7% stake, on a fully diluted basis, in Massachusetts,USA-based Lyndra Therapeutics, Inc., for USD 30 million. The deal will enable Sun to get access to technology for certain molecules and territories. Lyndra Therapeutics is in the business of developing novel delivery technology for long-acting oral (LAO) therapies. Lyndra revenue over the last three years, (January-December), have been reducing from USD 25.6 million (2020) to USD 13.1 million (2021) to USD 10.7 million (2022).