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.