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Mon, Apr. 7, 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)
Mon, Mar. 10, 8:51 AM
- Indian generic-drug makers Sun Pharmaceutical Industries and Ranbaxy Laboratories have recalled batches of treatments in the U.S. following complaints of bottling mix-ups.
- Sun Pharma diabetes tablets were found with an epilepsy medication, while Ranbaxy pulled two batches of its version of Pfizer's Lipitor cholesterol drug.
- The recalls come amid increasing scrutiny of generic drugs manufactured in India and of Ranbaxy (RBXLY) in particular - four of its plants are banned from exporting to the U.S. after failing to meet FDA strictures.
- Ranbaxy is owned by Japan's Daiichi Sankyo (DSKYF).
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