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India: Ranbaxy/Sun deal must be altered, CCI says

By  |  December 1, 2014

The Competition Commission of India has suggested changes to the proposed merger of pharmaceutical giants Sun Pharma and Ranbaxy after the regulator raised concerns about the deal.

The CCI released a report of its review of the $4 billion merger; that report including suggested alterations to the transaction, including possible divestitures, to address competition concerns. While the exact suggestions were not made public, sources say the proposed concessions include the sale of some brands.

Sun and Ranbaxy have been waiting for CCI approval on their merger, first announced last April. They will now have to respond to the proposed changes before moving forward, say reports.

Their merger would create India’s largest pharmaceutical company, and thus has attracted significant attention. The deal was also the first merger that faced public scrutiny in India, reports say.

Full content: NDTV

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