Latest News | Sun Pharma Completes Acquisition of Concert Pharmaceuticals

New Delhi, Mar 6 (PTI) Drug major Sun Pharma on Monday said it has completed the acquisition of US-based Concert Pharmaceuticals.

In January, the Mumbai-based company inked a pact to acquire Concert in a USD 576 million deal.

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The drug major has successfully completed the acquisition of Concert Pharmaceuticals, Inc, a late-stage clinical biopharmaceutical company that is developing deuruxolitinib for the potential treatment of adult patients with moderate to severe alopecia areata, Sun Pharma said in a regulatory filing.

"We are excited to add deuruxolitinib, a late-stage, potential best-in-class treatment for alopecia areata, to our growing global dermatology portfolio and expand our presence in the Boston biotech hub," Sun Pharma North America CEO Abhay Gandhi said.

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By bringing together Concert's talented team with Sun Pharma's global reach and commercial capabilities, this acquisition is an opportunity to bring deuruxolitinib to market globally and make a meaningful difference to alopecia areata patients around the world, he added.

Concert is a late-stage biotechnology company pioneering the use of deuterium in medicinal chemistry.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)