After a $11.75 billion deal, Sun Pharma buys again

Sun Pharma has fully acquired Innovcare Lifesciences for approximately ₹271.2 crore in cash.

For context, Mumbai-based Innovcare Lifesciences is engaged in the marketing, distribution, and sale of pharmaceutical drugs, nutraceuticals, and cosmeceutical products.

More scoop: the acquisition is a strategic move by Sun Pharma to strengthen its product portfolio. This comes just a month after the company acquired Organon & Co in an all-cash deal worth $11.75 billion, including debt.

Sun Pharma has now completed 18 acquisitions in total. Its most active acquisition years were 2012, with three deals, and 2016 and 2023, with two deals each.

Over the last five years, Sun Pharma has averaged nearly one acquisition per year, showing that M&A remains a key part of its growth strategy.