P.J.
0
Sun Pharma to buy Ranbaxy in $3.2 bn deal
MUMBAI: India's Sun on Monday acquired struggling Gurgaon-based drugmaker Laboratories, owned by Japan's Diiachi Sankyo, for $4 billion in a deal that will make the new entity India's largest and the world's fifth largest drugmaker.
Ranbaxy shareholders will receive 0.8 share of Sun Pharma for each share of Ranbaxy, Sun Pharma said, adding that revenue of the combined entity is expected to be $4.2 billion.
The all-stock transaction will give room to the company to make acquisitions with nearly $500 million net cash in its books. Promoters of Sun Pharma will hold close to 56% while Daiichi Sankyo will hold 9% stake in the combined entity.
Daiichi Sankyo had bought Ranbaxy Laboratories for $4.6 billion in 2008.
With the acquisition, Sun Pharma has joined the league of leading multinational generics makers such as Teva, Actavis, Sandoz and Mylan.
Read more from here:
Sun Pharma to buy Ranbaxy in $3.2 bn deal - The Economic Times
MUMBAI: India's Sun on Monday acquired struggling Gurgaon-based drugmaker Laboratories, owned by Japan's Diiachi Sankyo, for $4 billion in a deal that will make the new entity India's largest and the world's fifth largest drugmaker.
Ranbaxy shareholders will receive 0.8 share of Sun Pharma for each share of Ranbaxy, Sun Pharma said, adding that revenue of the combined entity is expected to be $4.2 billion.
The all-stock transaction will give room to the company to make acquisitions with nearly $500 million net cash in its books. Promoters of Sun Pharma will hold close to 56% while Daiichi Sankyo will hold 9% stake in the combined entity.
Daiichi Sankyo had bought Ranbaxy Laboratories for $4.6 billion in 2008.
With the acquisition, Sun Pharma has joined the league of leading multinational generics makers such as Teva, Actavis, Sandoz and Mylan.
Read more from here:
Sun Pharma to buy Ranbaxy in $3.2 bn deal - The Economic Times
