Shares of Sun Pharmaceutical Industries (Sun Pharma) surged more than 3 percent on Wednesday after the pharmaceutical company said it has completed the acquisition of Galderma companies in Delaware, Japan and Canada.

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Taro Pharmaceuticals USA Inc which is a wholly-owned subsidiary of Sun Pharma’s arm, Taro Pharmaceutical Industries, has agreed to acquire all of the outstanding capital stock of Delaware-based Galderma Holdings Inc, Japan-based Proactiv YK and Canada-based Proactiv Company Corporation along with other assets of The Proactiv Company Sari.

"...it has completed the aforesaid transaction of acquisition by making the payment of USD 99 .279 Mn after taking into account the working capital adjustments," the company said in the filing.

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Sun Pharma has acquired an anti-acne brand that at one time had a billion dollars in sales in the US and was endorsed by celebrities such as Justin Bieber and Katy Perry.

Sun Pharma's US arm Taro has acquired a skin care company Alchemee for USD 90 million from derma focused pharma company Galderma. Alchemee which was till last year known as The Proactiv Company has the Proactiv line of products used to treat acne.

At 1114 IST, the stock was trading 2.3 percent higher at Rs 874.8 on BSE. The scrip was 3.14 percent away from its 52-week high of Rs 902.5.

The stock has been gaining for the last 2 days and has risen over 6 percent during the period. It is trading higher than 5, 20, 50, 100 and 200 day moving averages.

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