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Home Industry News Ranbaxy unveils deal with Daiichi Sankyo

Ranbaxy unveils deal with Daiichi Sankyo

7th November 2008

Ranbaxy has announced the successful closure of their deal with Daiichi Sankyo.

With exception of the final transfer of the remaining equity, Daiichi Sankyo has now acquired 63.92 per cent of the equity share capital of Ranbaxy, equating to 268,711,323 shares.

Managing director and chief executive officer of Ranbaxy, Malvinder Mohan Singh, said the company was pleased that the deal had been completed successfully.

He added: “This puts us well on the path to create a hybrid business model that will unlock the strengths of both companies to bring unprecedented value to all stakeholders.”

The companies intend to optimise and explore any growth opportunities across the pharmaceutical value chain.

Takashi Shoda, president and chief executive officer of Daiichi Sankyo, described the transaction as a “landmark deal”.

“We are determined to work with Ranbaxy to realize sustainable growth,” he continued.

Ranbaxy has customers in over 125 countries and has an expanding international portfolio of affiliates, joint ventures and alliances.

Additionally, it has ground operations in 49 countries and manufacturing operations in 11 countries.

Daiichi Sankyo was established in 2005 after the merging of two Japanese pharmaceutical companies.

The organisation specialises in research and development of thrombotic disorders, diabetes mellitus, malignant neoplasm and autoimmune disorders.

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