AP News

Sun Pharmaceutical to buy Dusa in deal worth $230M


Indian drugmaker Sun Pharmaceutical Industries Ltd. plans to buy dermatology company Dusa Pharmaceuticals Inc. in a cash deal worth about $230 million.

Sun said Thursday it will pay $8 for each share of Dusa, a 38 percent premium on the Wilmington, Mass., company's closing price Wednesday of $5.78.

The price of Dusa shares rose $2.20, or 38 percent, to $7.98 in Thursday morning trading, nearly matching Sun's offer.

Dusa's Levulan therapy uses light to treat skin disorders. Its products include the BLU-U treatment for moderate acne.

The boards of directors for both companies have approved the deal, and Dusa's board has recommended that shareholders take the offer.


Race, Class, and the Future of Ferguson
LIMITED-TIME OFFER SUBSCRIBE NOW

(enter your email)
(enter up to 5 email addresses, separated by commas)

Max 250 characters

 
blog comments powered by Disqus