10:22 pm - Friday November 6, 2015

Sun Pharma buys Ranbaxy for $3.2 bn, creates fifth largest generics firm

124 Viewed Alka Anand Singh Comments Off on Sun Pharma buys Ranbaxy for $3.2 bn, creates fifth largest generics firm
sun phrma

Mumbai: India’s top drug makers Ranbaxy Laboratories Ltd and Sun Pharmaceuticals Industries Ltd said on Monday that the latter would acquire the former in a deal wotth $3.2 billion, creating the world’s fifth largest generic drug maker.
Sun Pharma will acquire 100% stake of Ranbaxy in an all-stock deal under which Ranbaxy shareholders will receive 0.8 share of Sun Pharma for every share they hold in Ranbaxy, which has come under regulatory fire from the US Food and Drug Administration (FDA).
Ranbaxy is currently owned by Japanese drug maker Daiichi Sankyo Co. Ltd with around 68% stake. After the merger, Daiichi Sankyo will become the second largest shareholder in Sun Pharma.
The share-swap ratio values Ranbaxy shares at a premium of 18% to the company’s 30-day volume-weighted average share price and a premium of 24.3% to Ranbaxy’s 60-day volume-weighted average share price as on 4 April.
The combination of Sun Pharma and Ranbaxy will have operations in 65 countries, 47 manufacturing facilities across five continents, and a significant platform of specialty and generic products marketed globally, including 629 new generic drug approvals in the US.
The combined entity’s revenues are estimated at $4.2 billion with an operational profit of $1.2 billion for the 12 months ended 31 December 2013.

Click here to submit your review.

Submit your review
* Required Field

Don't miss the stories followIndiaVision News and Information and let's be smart!
0/5 - 0
You need login to vote.
Filed in

BHEL FY14 provisional net profit halves to Rs 3228 cr


Govt pushes Odisha to expedite grant of licence to Posco

Related posts