Daiichi Completes Equity Purchase Of Ranbaxy, Closing Deal
This article was originally published in PharmAsia News
Daiichi Sankyo now owns 63.92 percent of Ranbaxy Laboratories equity after buying the last piece of stock in the $4 billion takeover of India's largest generics maker. Daiichi president Takashi Shoda said all of the planned transactions of the deal have now been completed. For its part, Ranbaxy is expected to use the Daiichi funds to retire some of its debt as it works to create what Malvinder Mohan Singh, Ranbaxy managing director, said would be a hybrid business model. The hybrid company is intended to take advantage of opportunities in all parts of the pharmaceutical chain, the firm said. (Click here for more - a subscription may be required
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