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.
"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.