Lyndra Therapeutics, Inc. is a company based in Massachusetts, engaged in the business of developing novel delivery technology for long-acting oral (LAO) therapies. It reported a turnover of $10.7 million in FY2022.
Sun Pharma said that the strategic investment is to support development of innovative pharmaceutical delivery technologies and get access to the technology for certain molecules and territories.
The acquisition would be completed by the end of December 2023, subject to certain conditions.
Sun Pharmaceuticals Industries is a leading global pharmaceutical company with specialty and generic presence and India's top pharma company.
The drug maker’s net profit rose 5% to Rs 2,375.51 crore on 11.32% increase in revenue from operations to Rs 12,192.41 crore in Q2 FY24 over Q2 FY23.
Shares of Sun Pharmaceuticals Industries rose 0.66% to Rs 1,259.75 on the BSE.