Sun Pharma to invest $25 mn in Pharmazz Inc; raises stake to 22.7 pc

Sun Pharmaceutical Industries Ltd will invest up to USD 25 million in Pharmazz Inc, increasing its stake to 22.7%. This investment triggers the conversion of a previous agreement. Sun Pharma gains an option to negotiate licensing of Sovateltide for developed markets and already holds exclusive rights for emerging markets. Pharmazz is developing drugs for stroke and hypovolemic shock.