Sun Pharmaceutical Industries has announced plans to acquire Innovcare Lifesciences Private Limited, a Mumbai-based pharmaceutical and healthcare company, in a deal valued at approximately Rs 271.2 crore.
Per the regulatory filing, Sun Pharma will purchase 100 per cent of Innovcare’s outstanding shares through an all-cash transaction. The deal is expected to close on or before July 31, 2026, pending customary conditions.
Innovcare operates across the marketing, distribution, and sale of pharmaceutical drugs, nutraceuticals, and cosmeceutical products in India. The company has shown a steady growth trajectory in recent years, with revenue from operations climbing from Rs 80.93 crore in FY2023-24 to Rs 86.09 crore in FY2024-25, and further to Rs 94.06 crore in the financial year ended March 2026.
Sun Pharma has positioned the acquisition as part of a broader strategy to strengthen its product portfolio. The pharmaceutical major has also clarified that the transaction does not constitute a related-party deal, confirming that neither its promoters nor any promoter group entities hold a stake in Innovcare.
The acquisition adds to Sun Pharma’s ongoing efforts to expand its presence in the domestic nutraceutical and cosmeceutical space, segments that have seen rising consumer demand alongside the broader pharmaceutical business. With Innovcare’s consistent revenue growth over the past three fiscal years, the deal signals Sun Pharma’s intent to bolster its distribution capabilities and diversify its offerings within the Indian healthcare market.
