Home / Business and Economy / Sudarshan Pharma Eyes US Market with Biotech Deal
Sudarshan Pharma Eyes US Market with Biotech Deal
7 Sep
Summary
- Sudarshan Pharma approved acquiring over 9.5% stake in Med Therapy Biotechnology Inc.
- The acquisition aims to enter the US market and access MedTherapy's customer base.
- MedTherapy is a Boston-based company focused on affordable cancer treatment.
Sudarshan Pharma's board has approved the acquisition of over 9.5% of Med Therapy Biotechnology Inc., a significant step towards expanding its global reach. This strategic move is slated for completion by March 31, 2027.
The primary objective of this acquisition is to establish a presence in the lucrative US market. Sudarshan Pharma aims to leverage MedTherapy's existing customer base, contracts, and distribution network.
MedTherapy Biotechnology, based in Boston, is recognized for its mission to make cancer treatments affordable and accessible. Founded by experts from Harvard and former Novartis executives, it operates as a CAR-T cell CDMO.
This investment is subject to regulatory approvals under India's Foreign Exchange Management Act. Sudarshan Pharma's stock has shown robust performance, surging over 46% year-to-date and delivering substantial returns over three years.
