Sun Pharma's R&D arm to become Pharma Advance Research Co

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Sun Pharma's R&D arm to become Pharma Advance Research Co

Following Sun Pharma's (Sun Pharmaceutical Industries Ltd.) dermerger of its R&D Division, the new entity will be called Sun Pharma Advance Research Company.

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Following Sun Pharma 's, or Sun Pharmaceutical Industries Ltd's dermerger of its R&D division, the new entity will be called Sun Pharma Advance Research Company.

The company will de-merge with a cash flow of USD 45 million. It will spend USD 60-75 million over the next three years.

Its business will be funded via product licensing at various stages. The new entity will have have 150 scientists to which, it will add 100-125 more over the next three years.

The date for the new listing is April 30, 2007.