Sun Pharma acquires 60% stake in Vivaldis for Rs 143.30 crore

27 Mar 2023 , 09:34 AM

Sun Pharmaceuticals Limited on March 4 announced that it is set to acquire 60% shareholding in Vivaldis Health & Foods for Rs 143.30 crore from its existing shareholders. The company is engaged in the business of trading, distributing, manufacturing and marketing of drugs, food supplements and over the counter products in the companion animal segment of animal healthcare industry.

The revenue for the financial year 2021-22 was Rs 29.92 crore. The revenues of Vivaldis Health have grown at CAGR of 47% during FY 19-20 to FY 21-22 period.

“INR 143.30 crores subject to customary closing adjustments for 60% shareholding,’ the company said in its filing.

Sun Pharmaceutical Industries is India’s top pharmaceutical company and the world’s fourth largest specialty generic pharmaceutical company.

The company reported 5.2% rise in consolidated net profit to Rs 2,166 crore in Q3 FY23 as compared with the corresponding quarter last fiscal. Total sales increased by 13% to Rs 11,100.14 crore in the third quarter from Rs 9,814.17 crore in the same period previous year.