Daiichi Failure To Renegotiate With Ranbaxy Puzzles Analysts
This article was originally published in PharmAsia News
Pharmaceutical industry analysts wonder why Daiichi Sankyo failed to renegotiate its $4.2 billion purchase of Ranbaxy Laboratories when the Indian generics maker encountered problems. The same analysts saw the merger as a good marriage of a branded company with a generic to give Daiichi a stronger presence in other markets. But after the U.S. FDA banned 30 Ranbaxy products in September, the Indian company lost 10 percent of its global sales and half of its U.S. sales, with a concomitant fall in stock value. The analysts believe Daiichi had an opportunity to renegotiate its offer in the intervening two months before the sale was completed. (Click here for more - a subscription may be required
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