Sun Pharma to buy Ranbaxy for us$ 3.2 billion
The deal makes the new entity India’s largest and world’s fifth largest drugmaker.
New Delhi, April 7, 2014: Indian drug firm Sun Pharma will acquire Ranbaxy Laboratories from Daiichi Sankyo for US$ 3.2 billion. It may be noted here that the deal will make the new entity India’s largest and world’s fifth largest drugmaker.
Ranbaxy shareholders will receive 0.8 share of Sun Pharma for each share of Ranbaxy and the combined revenue is expected to be US$ 4.2 billion. Promoters of Sun Pharma will hold around 56 per cent in the new entity while Daiichi will hold a nine per cent stake.
The combined entity will have operations in 65 countries with 47 manufacturing plants spread across five continents along with a strong base in generics and speciality products including 629 abbreviated new drug applications (ANDAs).