Sun Pharmaceutical acquires InSite Vision

Sun Pharmaceutical Industries has completed the acquisition of US-based eyecare firm InSite Vision in a move designed to strengthen its branded ophthalmic portfolio in the States.

In a statement, Sun Pharma said the deal was sealed by way of a short-form merger under the Delaware law. InSite Vision is now an indirect wholly-owned subsidiary of Sun Pharma.
As a result of the merger, each issued and outstanding share of InSite common stock has been transformed into the right to receive $0.35. InSite is no longer held to reporting obligations under the Securities Exchange Act of 1934 as amended.
Sun Pharma’s statement explains: “Holders of shares of InSite common stock that did not tender their shares into the tender offer will receive by mail written instructions for surrendering their share certificates or transferring their book-entry shares, including a letter of transmittal, and information regarding the exercise of appraisal rights under the Delaware law.”
Earlier in September, Sun Pharma announced its intent to scoop up InSite Vision for around $48 million with related debt and other transaction costs tagged on.  
The multinational pharmaceutical company, headquartered in Mumbai, Maharashtra, manufactures and sells pharmaceutical formulations and active pharmaceuticals.
Visit Sun Pharma website for more information

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Phill Allen

Managing Director

An in and outside the (bioprocess) box thinker, fluid management specialist Phill knows a thing or two about keeping pharma liquid logistics flowing.

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