Sun Pharma acquires 26.09% stake in Agatsa Software, 27.39% in Remidio Innovative Solutions

Drug major Sun Pharma has announced that it has acquired a 26.09% stake in Agatsa Software Private Limited, which is in an early-stage digital diagnostic devices company, for ₹30 crore in two tranches.

The acquisition will be made in two tranches wherein Tranche 1 ₹8 crore  would be completed in February 2023 and Tranche 2 up to ₹22 crore is expected to be completed by August 2023, subject to certain conditions, the company said in a filing.

The Mumbai-based company has also acquired 27.39% of Remidio Innovative Solutions Private Limited, which provides innovative products enabling early detection of eye diseases, for ₹149.9 crore.

Meanwhile, Sun Pharmaceutical Industries has reported a consolidated net profit at ₹2,166 crore for Q3 FY23.

The firm's revenue from operations came in at ₹11,241 crore for the period under review.

The company has reported an EBITDA or earnings before interst, tax, depreciation and amortisation at ₹3,003.7 crore, with margins at 26.7%.

Sun Pharma's board of directors has also declared an interim dividend of ₹7.50 for the financial year ending on 31 March this year.