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Indian Authorities Clear Purchase Of Ranbaxy By Daiichi Sankyo

This article was originally published in PharmAsia News

Executive Summary

India's Foreign Investment Promotion Board has given its approval to the proposed purchase of Ranbaxy Laboratories by Japan's Daiichi Sankyo. The approval clears the way for Daiichi Sankyo to buy a 34.8 percent interest Ranbaxy, with an option to buy another 20 percent later as part of a $4.6 billion deal. Daiichi is expected to open the offer to shareholders from Aug. 16-Sept. 4. The offer had been delayed because the Securities and Exchange Board of India had not yet given its okay. (Click here for more



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