Daiichi Sankyo announces approval of Zenotech stock offer

Daiichi Sankyo has announced its board has approved the implementation of an open offer regarding the acquisition of Zenotech Laboratories’ common stock.

The Japanese company is expected to implement an open offer for 20 per cent shares in Zenotech – which is an affiliate of Ranbaxy – in accordance with Indian legal requirements.

Daiichi Sankyo revealed the acquisition of Ranbaxy shares in June 2008.

Zenotech, based in Hyderabad in India, develops and manufactures oncology and generic injectables and biosimilars, according to a statement released by Daiichi Sankyo.

It currently employs around 160 people, including 50 in research and development – people looking for science sales jobs may be interested to know – and has an additional facility in Princeton, New Jersey, US.

Daiichi Sankyo Company, which was formed in 2005 following the merger of Daiichi Pharmaceutical and the Sankyo Company, produces drugs for the treatment of dyslipidemia, infectious and cardiovascular diseases.