Sun Pharmaceutical Industries has entered into an agreement to acquire 100% of the outstanding shares of Innovcare Lifesciences, a Mumbai-based company engaged in the marketing, distribution and sale of pharmaceutical drugs, nutraceuticals and cosmeceutical products.
The acquisition, valued at approximately Rs 271.2 crore, will be completed through a cash transaction and is expected to close on or before July 31, 2026. Sun Pharma said the deal is a strategic investment aimed at strengthening its product portfolio.
Innovcare has demonstrated consistent growth over the past three financial years, recording revenues of Rs 80.93 crore in FY24, Rs 86.09 crore in FY25 and Rs 94.06 crore in FY26.
Founded on July 21, 2014, Innovcare operates in the pharmaceuticals and healthcare sector and has a presence in India. Sun Pharma clarified that the transaction is not a related-party deal and that neither its promoter nor promoter group has any interest in the target company.
Upon completion of the transaction, Sun Pharma will own 100% of Innovcare’s outstanding shares, further expanding its presence in the pharmaceutical, nutraceutical and cosmeceutical segments.
