New Delhi, April 23 -- The number of overseas acquisitions by Indian drug companies has been steadily rising and is expected to continue growing as they scale up their ambitions, driven by a desire to move up the value chain and away from generics.

However, compared to big-ticket global biotech deals, Indian pharma, with some exceptions, is likely to pursue more targeted and smaller-ticket acquisitions, experts said.

In the past few months, Sun Pharmaceutical Industries Ltd and Zydus Lifesciences are said to have been evaluating biotech assets in the US. Sun Pharma is reportedly nearing a $12 billion acquisition of Jersey City-based women's healthcare company Organon & Co, while Zydus Lifesciences was exploring the purchase of Ardelyx I...