Ranbaxy To Seek Indian Strategic Alliance With Orchid
This article was originally published in PharmAsia News
Instead of a rumored hostile takeover, Ranbaxy Group appears close to a strategic alliance with Orchid Chemicals & Pharmaceuticals. Solrex Pharmaceuticals, believed to be a Ranbaxy-promoted company, is not expected to increase its recently acquired 14.7 percent share in Orchid, which would have put its investment at the 15 percent threshold requiring it to offer to buy an additional 20 percent of shares. A Ranbaxy-Orchid strategic relationship is seen as beneficial to both since Orchid makes active pharmaceutical ingredients and Ranbaxy already has a strong position in U.S. markets. Neither firm would confirm the plan. (Click here for more
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