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27 November, 2014 18:31 IST
Sun Pharma to acquire US-based DUSA Pharma
Source: IRIS | 08 Nov, 2012, 06.02PM
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Sun Pharmaceutical Industries, an integrated pharmaceutical company and DUSA Pharmaceuticals, Inc. have entered into a definitive agreement under which Sun Pharma (Q,N,C,F)* will acquire DUSA, a dermatology company focused on developing and marketing its Levulan photodynamic therapy platform.

Under the terms of the agreement, a 100% subsidiary of Sun Pharmaceutical Industries  will commence a tender offer for all of the outstanding common stock of DUSA at a price of USD 8 a share in cash, a 38% premium to the closing price of DUSA’s common stock on November 07, 2012. The transaction has a total cash value of approximately USD 230 million.

Dilip Shanghvi, managing director of the company said, “DUSA has proven technical capabilities in photodynamic skin treatments, with USFDA approved manufacturing.  DUSA’s business brings us an entry into dermatological treatment devices, where we see good growth opportunities.”

“We believe this transaction brings significant value to DUSA shareholders and are pleased that Sun Pharma recognized the value that has been created. The entire team at DUSA has built an excellent franchise around Levulan PDT and continues to grow its presence in the dermatology space.  We are  confident that Sun Pharma will build upon the solid foundation our organization has established in the United States dermatology market to further expand access to Levulan for patients with actinic kerotoses,” stated Robert Doman, president and CEO of DUSA Pharmaceuticals, Inc.  

Shares of Sun Pharmaceutical Industries declined Rs 5.3, or 0.76%, to settle at Rs 696.15. The total volume of shares traded was 220,055 at the BSE (Thursday).


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* Q - Quote , N - News , C - Chart , F - Financials
Comments Post comment 
By: Vishal | 9 November 2012 Reply | Forward | Report Abuse 
The acquistion would lead to tremendous synergies. The product portfolio of DUSA is growing @25%, which is much faster than the dermat market in the US. Sun would further accelerate the revenue growth by leveraging the field force of their subsidiary Taro, which is a major player in dermatology in the US. This article is extremely informative http://pharmadeals.pharmaintellect.com/2012/11/sun-acquires-dusa-transaction-valuation.html
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