New Delhi: Indian pharma major, Sun Pharmaceutical Industries has agreed to acquire Innovcare Lifesciences, deepening its nutraceutical footprint across the country with an established commercial unit.

In an intimation to the stock exchange, the company said to have agreed to acquire 100 per cent outstanding shares of the privately held firm, for a total cash consideration of Rs 271.2 crore.

Innovcare specialises in marketing and distribution of "branded nutraceutical and functional foods, against multiple lifestyle-related disorders". Additionally it also markets several pharmaceutical and cosmeceutical products.

The Navi Mumbai-based company, founded in 2014, is backed by Peak XV Partners, a spin-out of the Silicon Valley venture capital firm Sequoia. Homegrown investor JM Financial Private Equity also owns a minority stake in the company.

Innovare has a pan-India presence and operates with a 400-strong sales force across multiple specialities, including orthopaedics, gynaecology, dermatology, diabetes and sexual wellness.

On its website, the company claims to have doubled its sales every year since its inception in 2014. In FY26, its turnover stood at Rs 94 crore, up from Rs 86 crore in FY25, according to the disclosure made by Sun Pharma.

In the midst of integrating the $11.6 billion buyout, Organon —its biggest acquisition to date— Sun Pharma, known for its M&A instincts, is making an audacious push to diversify its revenue streams, and the Innovare deal reflects a broader theme in domestic markets, where drugmakers are increasingly targeting nutraceutical segments amid rising demand for over-the-counter (OTC) and wellness products.

Sun Pharma termed the latest move a “strategic investment” to strengthen its product portfolio.

Source: ET Pharma - June 21,2026