Monday 7 April 2014

India's Sun Pharma to buy Ranbaxy in $3.2 billion deal

A Ranbaxy office building is pictured in the northern Indian city of Mohali India's Sun Pharmaceutical Industries Ltd said it will buy generic drug maker Ranbaxy Laboratories Ltd , which has hit regulatory snags in its key U.S. market over quality issues, in an all-share deal with total equity value of $3.2 billion. Ranbaxy, India's No.1 drugmaker by sales and 63.4 percent held by Daiichi Sankyo Co Ltd , is banned from exporting drug ingredients to the United States, while Sun Pharmaceutical's Karkhadi plant is also barred from shipping products by the U.S. Food and Drug Administration. Sun Pharmaceutical said Ranbaxy shareholders will get 0.8 Sun Pharma shares for each Ranbaxy share.




via Health News Headlines - Yahoo News Read More Here..

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