Sun Pharmaceutical Industries has agreed to acquire 100% of Innovcare Lifesciences in an all-cash deal worth approximately Rs 271.2 crore ($28.73m), the company confirmed in a stock exchange filing.
The transaction is expected to close on or before 31 July 2026.
Innovcare markets and distributes branded nutraceuticals and functional foods targeting lifestyle-related disorders, as well as a portfolio of pharmaceutical and cosmeceutical products, exclusively within India.
For 2026, the company reported revenue from operations of Rs 94.06 crore.
Sun Pharma described the move as a "strategic investment" intended to strengthen its consumer healthcare portfolio and deepen its presence in India's fast-growing OTC and wellness markets.
The deal supports the company's broader push toward Fast-Moving Consumer Goods (FMCG)-style distribution in towns and smaller urban centres, where demand for accessible nutraceutical and functional food products is rising.
The acquisition comes as Sun Pharma continues integrating its $11.6bn buyout of Organon (its largest deal to date) and reflects a wider trend among Indian pharmaceutical manufacturers expanding into nutraceuticals as consumer demand for preventive and lifestyle-support products grows.
Industry watchers have also linked rising GLP-1 drug sales in India to increased interest in nutraceutical supplements designed to support weight management and obesity care, a category Innovcare's portfolio touches directly.
