Sun Pharmaceutical Industries, an international, integrated, speciality pharmaceutical company, announced that one of its wholly-owned subsidiaries has agreed to acquire 428,571 ordinary shares (equivalent to 12.5% stake) in WRS Bioproducts, Australia.

WRS Bioproducts, an early stage company based in Australia, developing novel technologies to produce and commercialize supplements and nutraceutical ingredients from diverse algae species.

The value of the said acquisition is worth AUD 2 million and indicative time period for completion of the same is on or before Mar. 15, 2021.

 Shares of the company gained Rs 3.90, or 0.64%, to settle  at  Rs 614.85.  The total volume of shares traded  was 115,560 at  the BSE (Monday).