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Sudarshan Pharma Targets US Market With MedTherapy Stake Deal
Sudarshan Pharma is planning to buy part of a company called MedTherapy Biotechnology.
The stake approved by its board is 9.50%.
Company promoters Hemal Mehta and Sachin Mehta will buy another 1.50% stake.
MedTherapy works on cancer cell and gene therapies.
Sudarshan Pharma says the deal could help it enter the US market.
It could also give the company access to customers, contracts and distribution networks.
The purchase will use US-dollar cash and must meet applicable investment rules.
Sudarshan Pharma’s stock has risen strongly over the past few years.
Sudarshan Pharma’s board approved acquiring a 9.50% stake in MedTherapy Biotechnology Inc.
The approved purchase covers 24,23,675.64 equity shares, with completion expected by March 31, 2027.
Promoters Hemal Mehta and Sachin Mehta will separately acquire a 1.50% stake in MedTherapy.
The investment is intended to help Sudarshan Pharma enter the US market and access MedTherapy’s customers, contracts and distribution network.
Sudarshan Pharma shares closed 1% higher at ₹39.42 on Friday and have gained 369.29% in three years.
- Who
- Sudarshan Pharma, MedTherapy Biotechnology Inc., and Sudarshan Pharma promoters Hemal Mehta and Sachin Mehta.
- What
- Sudarshan Pharma’s board approved acquiring a 9.50% stake in MedTherapy Biotechnology, while its promoters will acquire an additional 1.50% stake.
- Where
- MedTherapy is based in Boston and operates a manufacturing facility in New Delhi; the proposed investment is intended to support Sudarshan Pharma’s entry into the US market.
- When
- The approval was disclosed in an exchange filing dated September 5, and completion is expected by March 31, 2027.
- Why
- The deal is intended to provide access to MedTherapy’s customer base, contracts and distribution network and support expansion into new products and services.
Key facts
- Sudarshan Pharma closing price
- ₹39.42 per share, up 1% on Friday
- Approved stake
- 9.50% of MedTherapy Biotechnology Inc.
- Shares to be acquired
- 24,23,675.64 equity shares
- Promoters’ stake
- Hemal Mehta and Sachin Mehta will acquire 1.50%
- Expected completion
- By March 31, 2027
- Market capitalisation
- ₹984.16 crore as of September 4
- Three-year stock return
- 369.29%
Sources
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