Sun Pharma to Acquire 16.7% Stake in Lyndra Therapeutics for $30M

Sun Pharmaceuticals, a global pharma company headquartered in India, will acquire a 16.7% stake in US-based Lyndra Therapeutics for $30 million. Lyndra Therapeutics develops novel delivery technology for long-acting oral (LAO) therapies.

The pharma company made the statement in a regulatory filing.

Sun Pharma said the move is a strategic investment to support the development of innovative pharmaceutical delivery technologies and get access to the technology for certain molecules and territories.

Sun Pharmaceutical Industries Ltd., located in Mumbai, makes and sells pharmaceutical formulations and active pharmaceutical ingredients in over 100 countries worldwide. 

It is India's largest pharmaceutical firm and the world's fourth largest specialized generic pharmaceutical company. The items encompass psychiatry, anti-infectives, neurology, cardiology, diabetology, gastroenterology, ophthalmology, nephrology, urology, dermatology, gynecology, respiratory, oncology, dentistry, and nutritionals. Baricitinib, brivaracetam, and dapaglifozin are among its active pharmaceutical compounds.

Incorporated in January 2015, Lyndra Therapeutics reported $25.6 million in revenue in 2020, $13.1 million in 2021, and $10.7 million in 2022.

The stake acquisition is expected to be completed by the end of December 2023.