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Sun Pharma Completes Acquisition Of US-based Concert Pharmaceuticals
Concert is a late-stage biotechnology company pioneering the use of deuterium in medicinal chemistry
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Sun Pharma | Pharamaceutical Industries
Drug major Sun Pharma on Monday said it has completed the acquisition of US-based Concert Pharmaceuticals.
In January, the Mumbai-based company inked a pact to acquire Concert in a USD 576 million deal.
The drug major has successfully completed the acquisition of Concert Pharmaceuticals, Inc, a late-stage clinical biopharmaceutical company that is developing deuruxolitinib for the potential treatment of adult patients with moderate to severe alopecia areata, Sun Pharma said in a regulatory filing.
"We are excited to add deuruxolitinib, a late-stage, potential best-in-class treatment for alopecia areata, to our growing global dermatology portfolio and expand our presence in the Boston biotech hub," Sun Pharma North America CEO Abhay Gandhi said.
By bringing together Concert's talented team with Sun Pharma's global reach and commercial capabilities, this acquisition is an opportunity to bring deuruxolitinib to market globally and make a meaningful difference to alopecia areata patients around the world, he added.
Concert is a late-stage biotechnology company pioneering the use of deuterium in medicinal chemistry.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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First Published: Mon, March 06 2023. 22:39 IST
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