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India: $3.2B merger creates pharmaceutical behemoth

By  |  April 7, 2014

India’s largest pharmaceutical companies have inked a $3.2 billion deal to merge, reports said Monday.

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    Top drug maker Sun Pharmaceuticals Industries will acquire its rival Ranbaxy Laboratories in an all-stock deal, say reports.

    Japan-based Daiichi Sankyo currently controls Ranbaxy with a 68 percent stake; reports say following the merger Daiichi Sankyo will emerge as Sun Pharma’s second-largest shareholder.

    The deal is set to create a global pharmaceutical giant operating in 65 countries, reports say.

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