The sale comes 12 months after Japan-based Daiichi Sankyo completed its $4.5bn (€3bn) acquisition of Ranbaxy. NC will now pursue its generics strategy independent of Ranbaxy, although the Indian business will continue to manufacture and supply its partner for some time.
This is intended to ensure a smooth transition and allow NC to continue serving the Japanese generics market, which, according to Reuters, Pfizer is believed to be considering entering in 2011.