Sun Pharmaceutical Industries has agreed to purchase India-based Innovcare Lifesciences in a deal valued at approximately Rs2.71bn ($28.7m).

According to a regulatory filing, Sun Pharma will buy the entire issued and outstanding share capital of Innovcare Lifesciences via a cash transaction. The company expects to close the acquisition on or before 31 July 2026.

Innovcare Lifesciences operates across the Indian market, focusing on the marketing, distribution, and sale of pharmaceutical products, nutraceuticals, and cosmeceuticals.

The company reported operational revenue of Rs940m for the financial year ending March 2026, following revenue of Rs860m in FY24-FY25 and Rs809m in FY23-FY24.

Sun Pharma indicated that the planned acquisition is part of its efforts to expand and strengthen its product portfolio.

The company specified that the transaction is not a related-party arrangement, and neither its promoters nor entities in the promoter group have any shareholding or interest in Innovcare Lifesciences.

Sun Pharma also stated that no governmental or regulatory approvals are needed to complete this transaction.

Following the conclusion of the deal, Sun Pharma will acquire full ownership and control of Innovcare Lifesciences.

In April 2026, Sun Pharmaceutical Industries agreed to acquire Organon in a deal with an enterprise valuation of $11.75bn in cash, paying $14 per share for all outstanding shares.

Created through a spinoff from Merck & Co (MSD) in 2021, Organon distributes more than 70 products across women’s health and general medicines, including biosimilars, reaching 140 countries.

In March 2026, the US Food and Drug Administration accepted for review Sun Pharmaceutical’s supplemental biologics licence application (sBLA) submitted for Ilumya (tildrakizumab-asmn) to treat adults with active psoriatic arthritis.