1/12
Sun Pharmaceutical Industries Ltd said it will buy Ranbaxy Laboratories Ltd in a $3.2 billion all-share deal, creating the world's fifth-largest generic drug maker from two firms struggling with quality issues in the lucrative United States market.
In This Pic : Sun Pharma to buy Ranbaxy in $3.2 billion deal
Pic Courtesy : BCCL - Non Copyright
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2/12
Ranbaxy, India's biggest drugmaker by sales and 63.4 percent owned by Japan's Daiichi Sankyo Co Ltd, is banned from exporting drug ingredients to the US Sun Pharmaceutical's Karkhadi plant is also barred from shipping products by the US Food and Drug Administration.
In This Pic : Sun Pharma to buy Ranbaxy in $3.2 billion deal
Pic Courtesy : BCCL - Non Copyright
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3/12
India's pharmaceutical industry, which supplies more than 20 percent of the world's generic drugs, according to PricewaterhouseCoopers, suffers from a lack of oversight including a severe shortage of regulatory inspectors.
In This Pic : Sun Pharma to buy Ranbaxy in $3.2 billion deal
Pic Courtesy : BCCL
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4/12
Daiichi has dispatched personnel and promised to provide the necessary support to resolve lingering quality problems at Ranbaxy, in which it first invested in 2008.
In This Pic : Sun Pharma to buy Ranbaxy in $3.2 billion deal
Pic Courtesy : BCCL
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5/12
Under terms of the agreed deal, Ranbaxy shareholders will get 0.8 of a Sun Pharmaceutical share for each Ranbaxy share they own. Daiichi Sankyo said in a statement that it will hold a stake of about 9 percent in Sun Pharmaceutical after the deal.
In This Pic : Sun Pharma to buy Ranbaxy in $3.2 billion deal
Pic Courtesy : BCCL
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