Sun Pharmaceuticals Takes Over the Ownership Interest in AWACS & Trikaal

World’s fourth largest speciality generic pharmaceutical firm, Sun Pharmaceuticals Industries has announced that its wholly owned Indian subsidiary’s investee entity namely ABCD Technologies LLP that would soon be renamed as IndoHealth Services LLP has through its wholly-owned entity DigiHealth Technologies LLP. This firm has acquired about 66.02 percent ownership interest in AIOCD Pharmasofttech Awacs (AWACS) through a combination of direct purchase of 50 percent ownership interest in AWACS and indirect purchase of 32.04 percent shareholding interest in Trikaal Mediinfotech.

Furthermore, the firm has also agreed to procure the balance stake subject to fulfilment of certain terms and conditions.

In a regulatory filings, various pharma firms such as Torrent Pharma, Cipla, Dr Reddy's, and Cadila Healthcare states, "Our investee entity i.e. ABCD Technologies LLP (to be renamed as IndoHealth Services LLP) has through its wholly-owned entity DigiHealth Technologies LLP, acquired 66.02 percent ownership interest in AIOCD Pharmasofttech Awacs Private Ltd (AWACS)."

Moreover, it is been noted that the acquisition has taken place through a combination of direct purchase of around 50 percent ownership interest in AWACS and indirect purchase of 16.02 percent ownership interest in AWACS, through acquisition of 32.04 percent shareholding interest in Trikaal Mediinfotech.