Sun Pharma to Acquire InSite Vision

Sun Pharma announced that one of its subsidiary has entered into an agreement to acquire US-based eyecare firm InSite Vision.
InSite Vision focuses on developing specialty ophthalmic products. The acquisition will help Sun Pharma to establish a branded ophthalmic business in the US, analysts say. The acquisition of InSite Vision gives Sun Pharma access to four late stage branded opthalmic products in the US, India’s largest pharma company said in a statement.
Under the terms of the merger, the US subsidiary of Sun Pharma will make a tender offer for all of the issued and outstanding common stock of InSite Vision at a price of $0.35 per share, which is a 30 per cent premium to the price offered by a competing bidder as of September 11, 2015