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

    

1 of 2. An employee speaks on phone as he walks out of research and development centre of Sun Pharmaceutical Industries Ltd in Mumbai April 7, 2014.

Credit: Reuters/Danish Siddiqui

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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