Sun Pharma plans to acquire stake in HaystackAnalytics

New Delhi: Sun Pharmaceutical Industries Limited has entered into an agreement with HaystackAnalytics Private Limited, pursuant to which Sun Pharma has agreed to acquire 9.6% of total outstanding securities.

HaystackAnalytics is engaged in the business of developing genomic analysis software that enables clinical decision-making through culture free, comprehensive, and fast clinical genomics by automating bioinformatic analysis to produce clear and clinically relevant reports and utilization of the genomic data and their analysis for creation of new products for healthcare.

The acquisition is expected to be completed by July 2024, subject to the satisfactory completion of certain conditions. The consideration for the acquisition is ₹33.00 crore in cash. Sun Pharma will acquire 9.61% of Haystack’s total outstanding securities.