Sun Pharma Announces Plan to Acquire Innovcare Lifesciences for INR 271 Cr
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The acquisition aimed at strengthening the company’s product portfolio and expanding its presence in key healthcare segments.
Pharma giant Sun Pharmaceutical has announced plans to acquire Mumbai-based Innovcare Lifesciences for approximately $28.7 million (around ₹271.2 crore) in an all-cash transaction deal.
According to the company’s stock exchange filing, Sun Pharma, along with its subsidiaries and affiliates, will acquire 100% of the outstanding shares of Innovcare Lifesciences for a cash consideration of approximately INR. 271.2 crore.
The transaction is expected to be completed on or before July 31, 2026.
The acquisition aimed at strengthening the company’s product portfolio and expanding its presence in key healthcare segments.
Founded on July 21, 2014, Innovcare Lifesciences is engaged in the marketing, distribution, and sale of pharmaceutical drugs, nutraceuticals, and cosmeceutical products.
The company operates exclusively in the Indian market and has built a presence across therapeutic areas, including orthopaedics, gynaecology, dermatology, diabetes care, etc.
It reported revenue from operations of INR 94.06 crore in FY26, compared with INR 86.09 crore in FY25 and INR 80.93 crore in FY24, reflecting steady business growth over the past three fiscal years.
The Mumbai-based pharma company is backed by Peak XV Partners, a spin-out of Silicon Valley venture capital firm Sequoia.
In addition, Homegrown investor JM Financial Private Equity also owns a minority stake in the company.
According to Sun Pharma, the acquisition is a strategic investment designed to enhance its product offerings and reinforce its position in the healthcare market.
Upon completion, Innovcare will become a wholly owned subsidiary of Sun Pharma, further expanding its presence in pharma and allied segments.
The latest development follows the Indian drugmaker’s recent acquisition of US-based pharma company Organon in a transaction valued at approximately $11.75 billion, reflecting the company's ongoing efforts to expand its presence across domestic and international markets.
The deal marks its biggest acquisition to date and is aimed at expanding its US pharma market footprint.
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