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India's Zenotech Ups Noise Against Daiichi Sankyo; Demands $20 Million In Damages

This article was originally published in PharmAsia News

Executive Summary

MUMBAI - The founders of India's emerging oncology and biologics company Zenotech Labs have alleged that Japanese firm Daiichi Sankyo - which holds a 47 percent equity stake in the company - destroyed the value of the company besides delaying clinical trials of one of its key oncology drugs and claiming Zenotech's product trademarks as its own. Zenotech has claimed $20 million in damages from Daiichi Sankyo at an Indian court of law

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MUMBAI - Daiichi Sankyo's year-long struggle to wrest control of India's biotech and oncology start-up Zenotech Labs received yet another setback as the Securities Appellate Tribunal backed the founder promoters of the Hyderabad-based company led by Jayaram Chigurupati and asked the Japanese company to increase the offer price for the shares to further bolster its shareholding

Indian Tribunal Back Zenotech, Daiichi Sankyo's Struggle On Open Offer Price Continues

MUMBAI - Daiichi Sankyo's year-long struggle to wrest control of India's biotech and oncology start-up Zenotech Labs received yet another setback as the Securities Appellate Tribunal backed the founder promoters of the Hyderabad-based company led by Jayaram Chigurupati and asked the Japanese company to increase the offer price for the shares to further bolster its shareholding

Daiichi Sankyo Looks At Consolidating Stake In Zenotech; Minority Shareholders, Founder Cry Hoarse

MUMBAI - Daiichi Sankyo, the majority equity holder in India's largest drug company Ranbaxy, has encountered a hurdle in its proposal to make an open offer for 20 percent shares in Zenotech Labs. Shareholders of Zenotech Labs have pleaded that the open offer price fixed by Daiichi Sankyo is far less than what Ranbaxy paid to acquire 46 percent of its equity a year ago

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