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Sun Pharma to acquire Concert Pharmaceuticals for US$576 mn

Concert is a late-stage biotechnology business that has finished evaluating the efficacy and safety of deuruxolitinib in adult patients with moderate to severe Alopecia Areata.

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Sun Pharmaceutical Industries will acquire US-based Concert Pharmaceuticals for US$576 million to enable research in the treatment for an autoimmune condition alopecia areata, which causes patchy hair loss.

The US firm declared that they had signed a legally binding agreement under which Sun Pharma would tender all of its Concert stock for an upfront cash payment of US$8 per share of common stock, or US$576 million in equity value. Sun Pharma would then purchase all of Concert's outstanding shares through a tender offer.

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