The Competition Commission of India is not ready to approve of the proposed acquisition of Ranbaxy by Sun Pharmaceutical, say reports.
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
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Uruguayan Antitrust Scrutiny Puts Major Meatpacking Deal Between Marfrig and Minerva on Hold
May 19, 2024 by
CPI
Alaska Airlines Seeks Dismissal of Consumer Lawsuit Over $1.9 Billion Hawaiian Airlines Buy
May 19, 2024 by
CPI
Idaho Attorney General Orders Split of Kootenai Health and Syringa Hospital
May 19, 2024 by
CPI
Court Rejects T-Mobile’s Appeal Bid in Antitrust Case Over Sprint Merger
May 19, 2024 by
CPI
Google Requests Judge, Not Jury, to Decide on Antitrust Case
May 19, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Ecosystems
May 9, 2024 by
CPI
Mapping Antitrust onto Digital Ecosystems
May 9, 2024 by
CPI
Ecosystems and Competition Law: A Law and Political Economy Approach
May 9, 2024 by
CPI
Ecosystem Theories of Harm: What is Beyond the Buzzword?
May 9, 2024 by
CPI
Open Ecosystems: Benefits, Challenges, and Implications for Antitrust
May 9, 2024 by
CPI