India’s Opposition Party Candidate Critical Of Ranbaxy Buyout
This article was originally published in PharmAsia News
The proposed acquisition of India's Ranbaxy Laboratories by Japan's Daiichi Sankyo has drawn the ire of the leader of India's opposing party, who called it "a cause for worry." Opposition leader L.K. Advani of the Bharatiya Janata Party said, without naming Ranbaxy, it "has lost its identity to a foreign company" by acceding to the buyout bid. Advani acknowledged mergers and acquisitions involving Indian companies were inevitable, but said the companies should consider national interests, which he said are antithetical to monopolies in areas such as pharmaceuticals. (Click here for more
You may also be interested in...
Private Company Edition: Venture capital financings didn’t take a break during Thanksgiving week. In addition to the $800m Resilience raised to fund manufacturing services, SomaLogic closed a $121m series A round to fund its proteomic tools for drug discovery and diagnostics development.
The $250m deal adds A&E Medical’s sternal sutures, cable systems, and rigid fixation systems to Zimmer Biomet’s Dental, Spine & Craniomaxillofacial and Thoracic business.
The Phase III clinical trial showed a noticeable placebo effect compared with OV101.