Sun Phar­ma buys out Con­cert, and its alope­cia drug, for $576M

Con­cert Phar­ma­ceu­ti­cals and its alope­cia drug have found a new home.

Mum­bai-based Sun Phar­ma an­nounced ear­ly Thurs­day that it will ac­quire Con­cert for $576 mil­lion in cash, get­ting a new foothold in both the alope­cia and US mar­kets. The deal val­ued Con­cert at $8 per share (rough­ly a 16% pre­mi­um on Wednes­day’s clos­ing price) and al­so in­clud­ed a $3.50 CVR de­pen­dent on the alope­cia drug hit­ting cer­tain mile­stones.

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