Shares of BSE-listed Sudarshan Pharma Industries Limited will be in focus during today’s trading session after the company announced its strategic expansion into the US market through a new acquisition. According to information shared with exchanges, the company’s board of directors has approved the acquisition of Delaware-registered MedTherapy Biotechnology Inc. The company will acquire a 9.50 per cent equity stake in the target entity. MedTherapy Biotech works toward making cancer treatment affordable and accessible to almost every patient.
“We see substantial potential to combine advanced biotechnology, cost-efficient manufacturing and international commercialisation. This association could open significant opportunities across the United States, India and other global markets while creating long-term value for our shareholders,” the company said.
Percentage of shareholding control acquired
As per the information available, the board has approved purchasing 24,23,675.64 shares of common stock in the target entity at a face value of USD 0.0001 per share in cash, equivalent to 9.50 per cent of the company’s issued and outstanding share capital. The company’s promoters will also acquire individual equity positions. The acquisition is expected to conclude by March 31, 2027. However, this is subject to customary due diligence and regulatory clearances under RBI and FEMA overseas investment guidelines.
Share price of the stock
The company’s stock closed 1 per cent higher on Friday, ending the session at Rs 39.42 apiece. The company’s market capitalisation stood at Rs 984.16 crore. The stock has a 52-week high of Rs 42.79 and a 52-week low of Rs 18.50.
Share price history
The stock has given a strong return of 386.94 per cent in the benchmark index. While it has gained 83.22 per cent in two years, the counter has returned 31.40 per cent in one year. On a year-to-date (YTD) basis, it has gained 53.13 per cent, compared to the fall of 10.31 per cent in the benchmark index.