Sun Pharmaceutical Industries Ltd. — M&A Activity 2025

Jan 16, 2025

Sun Pharmaceutical Industries Limited Sun House, Plot No. 201 B/1, Western Express Highway, Goregaon (E), Mumbai – 400 063, Maharashtra, INDIA. Tel.: (91-22) 4324 4324 Fax: (91-22) 4324 4343 Website: www.sunpharma.com Email: secretarial@sunpharma.com CIN: L24230GJ1993PLC019050

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January 16, 2025

National Stock Exchange of India Limited BSE Limited Scrip Symbol: SUNPHARMA Scrip Code: 524715

Intimation under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 – Acquisition

This is to inform that TARO Pharmaceuticals Inc., a subsidiary of Sun Pharmaceutical Industries Limited (together with its subsidiaries and/or affiliates referred to as “Sun Pharma”), has entered into an agreement with Antibe Therapeutics Inc., Canada, pursuant to which Sun Pharma has agreed to acquire 100% stake in Antibe Therapeutics Inc.

Annexure A , enclosed herewith, provides the particulars of the disclosure required under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and Part A of Schedule III.

For Sun Pharmaceutical Industries Limited

Anoop Digitally signed by Anoop Anjanikumar Anjanikumar Deshpande Date: 2025.01.16 11:51:32 Deshpande +05'30' (Anoop Deshpande) Company Secretary and Compliance Officer ICSI Membership No.: A23983

Registered Office: SPARC, Tandalja, Vadodara – 390 012, Gujarat, INDIA.

Reaching People. Touching Lives.

Sun Pharmaceutical Industries Limited Sun House, Plot No. 201 B/1, Western Express Highway, Goregaon (E), Mumbai – 400 063, Maharashtra, INDIA. Tel.: (91-22) 4324 4324 Fax: (91-22) 4324 4343 Website: www.sunpharma.com Email: secretarial@sunpharma.com CIN: L24230GJ1993PLC019050

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Annexure A

Disclosure under Para (A) of Part (A) of Schedule III to the Regulation 30 SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015

Sl. No.	Particulars	Information
a)	Name of the target entity, details in brief such as size, turnover etc.	Antibe Therapeutics Inc. (“Antibe”) is an Ontario, Canada incorporated corporation based in Ontario, Canada. It is a clinical-stage biotechnological company developing novel drugs primarily focusing on reducing pain and inflammation. Antibe is currently being managed by a court- appointed receiver, and the receiver is authorized to carry out the sale of Antibe. The turnover for FY 2023-24 is NIL.
b)	Whether the acquisition would fall within related party transaction(s) and whether the promoter/ promoter group/ group companies have any interest in the entity being acquired? If yes, nature of interest and details thereof and whether the same is done at “arm’s length”	No, the transaction is not a related party transaction, and the promoter/promoter group does not have any interest in the entity whose securities are being acquired.
c)	Industry to which the entity being acquired belongs	Pharmaceuticals and Healthcare
d)	Objects and effects of acquisition (including but not limited to, disclosure of reasons for acquisition of target entity, if its business is outside the main line of business of the listed entity)	Strategic investment in a pharma company.
e)	Brief details of any governmental or regulatory approvals required for the acquisition	The transaction is subject to a Reverse Vesting Order and approval from the Ontario Superior Court of Justice (Commercial List) (the “Ontario Court”).
f)	Indicative time period for completion of the acquisition	Before 7thMarch 2025

Registered Office: SPARC, Tandalja, Vadodara – 390 012, Gujarat, INDIA.

Reaching People. Touching Lives.

Sun Pharmaceutical Industries Limited Sun House, Plot No. 201 B/1, Western Express Highway, Goregaon (E), Mumbai – 400 063, Maharashtra, INDIA. Tel.: (91-22) 4324 4324 Fax: (91-22) 4324 4343 Website: www.sunpharma.com Email: secretarial@sunpharma.com CIN: L24230GJ1993PLC019050

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g)	Nature of consideration - whether cash consideration or share swap and details of the same	Cash Consideration
h)	Cost of acquisition or the price at which the shares are acquired	Since the Ontario Court is overseeing the divestment of Antibe, the court-appointed receiver has indicated that acquisition consideration should not be disclosed until the closing of the transaction. Sun Pharma shall update the consideration to stock exchanges once the transaction is completed.
i)	Percentage of shareholding/ control acquired and/ or number of shares acquired	100%
j)	Brief background about the entity acquired in terms of products/line of business acquired, date of incorporation, history of last 3 years turnover, country in which the acquired entity has presence and any other significant information (in brief)	Antibe is an Ontario, Canada-based clinical-stage biotechnology company (incorporated in Ontario, Canada) that is developing novel drugs primarily focusing on reducing pain and inflammation. Antibe (incorporated in Ontario, Canada) was founded in 2009. Consolidated revenue from operations for the previous three years is NIL Antibe is currently under court-observed liquidation proceedings and is being managed by a court-appointed receiver. Sun Pharma has entered into a definitive agreement with the receiver to acquire 100% shares in Antibe via a reverse Vesting Order, based on which certain excluded assets and liabilities are transferred to a residual company from Antibe prior to closing.

Registered Office: SPARC, Tandalja, Vadodara – 390 012, Gujarat, INDIA.

Reaching People. Touching Lives.