Sun Pharmaceutical to Buy DUSA Pharmaceuticals

Sun Pharmaceutical Industries Ltd. will buy DUSA Pharmaceuticals Inc. for about $215 million in cash, as the India-based company looks to make a foray into the lucrative market for dermatological treatments. The deal has been unanimously approved by the boards of both companies and DUSA's board has recommended that the company's shareholders tender their shares. DUSA currently markets Levulan, a combination therapy approved for the treatment of non-hyperkeratotic actinic keratoses of the face or scalp, as well as the BLU-U Blue Light Photodynamic Illuminator. Sun Pharmaceutical makes and markets branded generics, as well as generics, in India, the U.S. and several other markets across the world.