When the Singh family sold Ranbaxy Laboratories to Daiichi Sankyo it took everyone by surprise. This deal may well have opened the door for other such transactions in the future. Indian promo ters, who were considered to be sentimentally attached to their businesses, are now analysing their business portfolio and may be willing to cash out at right values. Times they are a-changin’
Never a dull moment these days at Ranbaxy Laboratories, India’s largest drug manufacturer. In the course of the summer, it has resolved its longstanding, much-publicized patent dispute with Pfizer over its generic version of Lipitor, agreed to an imminent buyout by Japanese drugmaker Daiichi Sankyo, and been sued by the U.S. government for alleged data fraud. As Ranbaxy’s World Turns, So Does Generics Model
The Japanese company had agreed in June to pick up 34.8 per cent stake in Ranbaxy, India's largest drug maker, from its promoters, Malvinder Mohan Singh and family. Daiichi Sankyo Company Ltd will pay Rs 737 per share to shareholders of Ranbaxy Laboratories in its open offer beginning Aug 16, the Japanese company said in a regulatory statement here Monday.
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