Sun Pharma hopes to turn fortunes of Ranbaxy around with $3.2B buyout
Sun Pharma hopes to turn fortunes of Ranbaxy around with $3.2B buyout
The all-stock deal would make Daiichi Sankyo Sun’s largest shareholder with a 9% stake
April 7, 2014 | By Eric Palmer
Sun Pharmaceutical Industries has been shopping for deals that would give it more exposure to the U.S. market, and now it has pulled off a stunner. The Indian drugmaker will pay $3.2 million to buy competitor Ranbaxy Laboratories, a company with serious issues but one with big potential in the world’s largest market.
Read more: Sun Pharma hopes to turn fortunes of Ranbaxy around with $3.2B buyout – FiercePharma http://www.fiercepharma.com/story/sun-pharma-hopes-turn-fortunes-ranbaxy-around-32b-buyout/2014-04-07#ixzz2yJQ54E4C
