Related topics: Industry Drivers
Daiichi Sankyo has completed its $4.5bn (€3.5bn) purchase of Indian generics giant Ranbaxy Laboratories, quashing speculation that the Japanese firm would withdraw as a result of Ranbaxy’s ongoing problems in North America.
Some observers had thought that the deal, which brings Daiichi’s holding in Ranbaxy to around 64 per cent, would be put on hold until Ranbaxy resolved its issues with the US Food and Drug Administration (FDA) and Health Canada.
Daiichi CEO Takashi Shoda said that the purchase “puts us well on the path to create a hybrid business model that will unlock the strengths of both companies,” and confirmed that Ranbaxy will retain its operational independence.
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