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India: Sun-Ranbaxy gets CCI nod for divesting brands

By  |  March 23, 2015

Sun Pharma and Ranbaxy have got approval from the Competition Commission for sale of seven brands to Emcure Pharma to comply with the fair trade watchdog’s conditional nod for their $4-billion merger. In an order issued on Monday.

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    These seven brands were at the core of the CCI’s contention that the merger between Sun Pharmaceutical Industries and Ranbaxy Laboratories was ‘prima-facie’ in violation of competition laws and therefore the regulator had ordered divestment of those products under its ‘conditional’ nod to the deal.

    Despite sale of these products, the merger would create India’s largest and the world’s fifth largest drugmaker.

     

    Full Content: Business Standard

     

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