Daiichi Sankyo buys share of Ranbaxy

Daiichi Sankyo has settled payment for a 20 per cent share of Indian company Ranbaxy Laboratories, it has been reported.

The third-largest drug manufacturer in Japan, based in Tokyo, has agreed the deal as part of an offer to buy a controlling share of Ranbaxy, Bloomberg said.

Daiichi Sankyo is expected to buy at least 50.1 per cent of the company by the end of the year for around 198 billion rupees (2.3 billion pounds), spokesperson Shigemichi Kondo said.

In June, Daiichi Sankyo’s chief executive Takashi Shoda agreed to purchase the controlling share of Ranbaxy – India’s largest drug maker – to enter the market for generic medicines.

Sales in this sector are growing nearly twice as quickly as the demand for branded drugs, the news source said.

Those looking for new scientific sales jobs may be interested in Daiichi Sankyo’s range of products, which includes Welchol, Azor, Floxin Benicar and Evoxac.