Sun Pharmaceuticals, one of India’s largest drugmakers is acquiring competitor Ranbaxy Laboratories for $3.2 billion from Japan’s Daiichi Sankyo Co. Daiichi Sankyo, the majority shareholder in Ranbaxy will acquire a 9% stake in Sun Pharmaceuticals after the deal and also has an option to send a board member to Sun Pharmaceuticals. This deal, which comes when Ranbaxy is under some regulatory scrutiny in the USA (according to media reports), will catapult the combined entity to India’s largest pharma company and...
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