Sun Pharmaceuticals Industries plans to acquire an 85.1% stake in JSC Biosintez for a purchase consideration of $60m.

The acquisition will enable Sun Pharmaceuticals to gain local manufacturing capabilities in Russia and expand its presence in the Russian pharmaceutical market.

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"The acquisition enables Allergan to develop novel treatments for Alzheimer’s disease."

Allergan plans to expand its CNS research and development (R&D) pipeline through its recent acquisition of a clinical-stage biopharmaceutical company named Chase Pharmaceuticals Corporation.

Cowen and Company acted as the financial advisers for the transaction.

The acquisition enables Allergan to develop novel treatments for Alzheimer’s disease.

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