Apr. 7, 2014, 3:32 AM
- 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)
Founded on September 28, 2005 through the merger of Daiichi Pharmaceutical and Sankyo, Daiichi Sankyo delivers innovative products that enhance the lives of millions of people around the world. Our recent successes include the antihypertensive agent olmesartan (Olmetec), launched in 2002 by... More
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