Concert's lead candidate, deuruxolitinib, is being evaluated as a treatment for autoimmune condition alopecia areata, which results in patchy hair loss.
Sun Pharma said it will commence a tender offer to acquire Concert at $8 per share, a premium of 16% to the stock's last close. Concert stockholders will also receive a contingent value right entitling them an additional amount of up to $3.50 per share of common stock in cash, contingent on sales milestones.
Download The Economic Times News App to get Daily Market Updates & Live Business News.
Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.
Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
Read More News on
Download The Economic Times News App to get Daily Market Updates & Live Business News.
Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.
Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price