Japanese pharma company buys Ranbaxy
17 June 2008
Peter Ollier, Hong Kong
Japanese research based pharmaceutical company Daiichi-Sankyo has shaken up India’s domestic pharmaceutical industry by buying a controlling stake in Indian generic company Ranbaxy on Wednesday June 11
In a transaction expected to be worth $3.4 billion to $4.6 billion, Daiichi-Sankyo will buy the 34.8% stake in Ranbaxy held by the family of Malvinder Mohan Singh, chief executive and managing director of Ranbaxy. The Japanese company will also launch a tender offer to buy up to 20% of Ranbaxy from the market.
Singh described the deal in a press release as “a significant milestone in our...
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