Sun Pharmaceutical to buy Indian rival Ranbaxy for $3.2B

Sun Pharmaceutical Industries has agreed to acquire fellow Indian company Ranbaxy Laboratories (RBXLY) for $3.2B in an all-stock deal that will create the world's fifth-largest generic-drug maker. Including the debt, the transaction is worth $4B.

The merger combines two firms that have had problems with quality issues. Ranbaxy, which is owned by Japan's Daiichi Sankyo (DSKYF), is banned from selling ingredients to the U.S., while Sun's Karkhadi facility is also not allowed to export products to the U.S. (PR)

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    these kinds of merger stories in india are viewed positively. there will be renewed interest in this counter. and in all likelihood ranbaxy will move up to close the gap between the two counters. secondly , the issues in usa will be sorted out over a period of time. and the business will be as usual. we need now to keep a tab on these two counters over the next 2 to 3 months . but surely its a good deal for the shareholders.
    7 Apr 2014, 07:11 AM Reply Like
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