Sun Pharma announces agreement to acquire 60% of Vivaldis Health And Foods

Sun Pharmaceutical announced on Friday that it will acquire a 60% stake in Vivaldis Health and Foods from its existing shareholders for Rs 143.30 crore, according to an exchange filing.  

The remaining 40 per cent shareholding will be acquired in future as per certain terms and conditions, the company clarified in its regulatory filing. 

The transaction is expected to be completed by the end of May 2023. 

Recently, Sun Pharma has also acquired Concert, a US-based pharmaceuticals firm, in January. The Mumbai-based company inked a pact to acquire Concert in a USD 576 million deal. 

According to a recent report, Jefferies maintains a BUY rating on Sun Pharma shares with a target price of Rs 1,200 per share and recommends it as a top pick. Although, it sees ongoing litigation on patents with Incyte as a key hurdle. 

On Friday, the company's share price ended 0.46 per cent down at Rs. 972.80 on BSE.