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DUSA (DUSA) To Be Acquired By India's Sun Pharmaceutical

 November 08, 2012 07:15 AM


(By Balachander) DUSA Pharmaceuticals Inc. (NASDAQ: DUSA), a dermatology company, has agreed to be acquired by India-based Sun Pharmaceutical Industries Ltd. for roughly $230 million in cash or $8.00 a share.

The deal represents a premium of 38 percent to DUSA's previous closing price of $5.78.

"DUSA's business brings us an entry into dermatological treatment devices, where we see good growth opportunities," commented Dilip Shanghvi Managing Director of Sun Pharmaceutical.

DUSA's commercial brands include BLU-U, and Levulan/ Kerastick.

The U.S. FDA approved DUSA's BLU-U to treat moderate inflammatory acne vulgaris and general dermatological conditions.

DUSA shares have been trading in the 52-week range of $3.25 to $7.33.

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