(Adds particulars on deal)

Jan 19 (Reuters) – Sun Pharmaceutical Industries Limited stated on Thursday it can purchase U.S.-based Concert Pharmaceuticals for $576 million in money to realize entry to an experimental drug for treating patchy baldness.

Concert’s lead candidate, deuruxolitinib, is being evaluated as a therapy for autoimmune situation alopecia areata, which ends up in patchy hair loss.

India’s Sun Pharma stated it can start a young supply to amass Concert at $8 per share, a premium of 16% to the inventory’s final shut.

Concert stockholders will even obtain a contingent worth proper entitling them an extra quantity of as much as $3.50 per share of widespread inventory in money, contingent on gross sales milestones. (Reporting by Bhanvi Satija in Bengaluru; Editing by Shinjini Ganguli)