A day after it announced the $230-million deal to buy a US-based company, Sun Pharmaceutical Industries today said it is looking forward to larger acquisitions as part of its expansion plans.
“We continue to look for opportunities to expand our business in all the key geographies and markets we are focused on. We are looking at acquiring businesses hopefully larger then DUSA going forward,” Sun Pharma Managing Director Dilip Shanghvi said in a conference call.
As part of its expansion plans, the company had yesterday inked a pact to acquire US-based DUSA Pharmaceuticals for around $230 million (around Rs 1,250 crore).
DUSA Pharmaceuticals is a dermatology company focused on developing and marketing its Levulan photodynamic therapy platform.
The company also said it is revising its revenue growth guidance upwards to 30-32 per cent for the fiscal year ending March 2013. The company had earlier said that sales would grow 18—20 per cent in FY’13.
Sun Pharma scrip was trading at Rs 703.60 on the BSE, up 1.07 per cent from its previous close.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.