• search

Daiichi Sankyo to buy Ranbaxy for 4.6 bn

Written by: Staff
|

New Delhi, Jun 11: Pharma major Ranbaxy Laboratories sells 34.8 pc stake (Rs 737 per share) to Japanese drugmaker Daiichi Sankyo Co Ltd. Ranbaxy has signed a binding share purchase and share subscription agreement with Daiichi Sankyo, with the total transaction value expected to be between 3.4 billion dollars to 4.6 billion dollars, the company said in a statement.

The Japan-based drug maker will fund stake buy via debt and internal accruals and the deal is expected to be completed by March next year. However, Manvinder Singh will continue to lead the company as its CEO and Managing Director, the statement said, adding that both Ranbaxy and Daiichi believe the transaction will create significant long term value for all stakeholders.

Such a deal would represent a major foray into the field of generic drugs by Daiichi Sankyo and would be the latest large overseas acquisition by a Japanese drug maker.

UNI

For Daily Alerts
Get Instant News Updates
Enable
x
Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Oneindia sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Oneindia website. However, you can change your cookie settings at any time. Learn more