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India: Authorities not convinced of Sun/Ranbaxy pharma merger

By  |  September 4, 2014

The Competition Commission of India is not ready to approve of the proposed acquisition of Ranbaxy by Sun Pharmaceutical, say reports.

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    The watchdog said Thursday that it has made initial observations about the $3.2 billion takeover that suggest the deal may hurt competition. The CCI how now asked the companies to provide more information on the deal.

    The companies now have 10 working days to submit the information.

    The companies first agreed on a merger deal last April; Ranbaxy is currently owned by Japan-based Daiichi Sankyo. Should all the necessary regulators approve of the deal, the newly combined company would be the world’s fifth-largest generic drug maker, reports say.

    Full content: Business Standard

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