Sun Pharmaceutical is planning acquisitions in Europe and is in talks with German drug maker Stada Arzneimittel AG.
The overseas acquisition is a part of strategic move to broaden its geographic breadth. Sun Pharma has followed a strategy of acquiring under-performing or unprofitable companies and merging their operations to its company.
The company is planning to raise $1 Bn for the acquisitions as the market value of the German drug maker is around $1.7 Bn. Sun Pharma has about $927 Mn cash on its balance sheet.
Sunnyvale, California-based Druva Inc., a cloud-first data protection solution provider, announced receiving $51 million in funding. This round of funding was led by existing investor Sequoia India, along with participation of new investors such as Blue Cloud Ventures, Hercules Capital, and Singapore-based EDBI. Existing investors like Japan’s NTT Finance (financial arm of Japanese telecommunications company Nippon Telegraph and Telephone Corporation), Nexus Venture Partners and Tenaya Capital also contributed to this round.