India’s Sun Pharmaceutical Industries Ltd. is taking over troubled
domestic rival Ranbaxy Laboratories Ltd. from its Japanese owner, Daiichi Sankyo Co., which struggled for years to turn around the company, in a deal valued at $3.2 billion.
Ranbaxy
IN:500359
+8.18%
, one of the world’s biggest generic drug makers, has battled to
overcome increasingly stringent regulatory measures by the U.S. Food and Drug Administration, which has barred imports from four out of its five factories in India, on safety concerns..
The deal to sell Ranbaxy is a sign that Daiichi Sankyo JP:4568 +3.36% is retreating from an expensive effort to clean up Ranbaxy’s drug-making process. Japan’s second-biggest drug maker, which has spent tens of millions of dollars each year on the efforts, acquired a controlling stake in Ranbaxy in 2008 for $4.6 billion
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The deal to sell Ranbaxy is a sign that Daiichi Sankyo JP:4568 +3.36% is retreating from an expensive effort to clean up Ranbaxy’s drug-making process. Japan’s second-biggest drug maker, which has spent tens of millions of dollars each year on the efforts, acquired a controlling stake in Ranbaxy in 2008 for $4.6 billion
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
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