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Sun Pharma to buy struggling Ranbaxy for $3.2 billion as Daiichi Sankyo retreats
By Chang-Ran Kim and Zeba Siddiqui
TOKYO/MUMBAI Mon Apr 7, 2014 4:58pm IST Related Topics
Stocks
Sun Pharmaceutical Industries Ltd
SUN.NS
Rs588.10
+16.30+2.85%
04/07/2014
Ranbaxy Laboratories Ltd
RANB.NS
Rs445.75
-13.80-3.00%
04/07/2014
Daiichi Sankyo Co Ltd
4568.T
¥1,813
+58.00+3.30%
04/07/2014
TOKYO/MUMBAI (Reuters) - Sun Pharmaceutical Industries Ltd (SUN.NS) has agreed to buy generic drugmaker Ranbaxy Laboratories Ltd (RANB.NS) for $3.2 billion, betting it can fix factory quality glitches that plagued the current owner, Japan's Daiichi Sankyo Co (4568.T), and got Ranbaxy India-made drugs barred from the United States
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