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Chemical Week Magazine :: Pharmaceuticals & Fine Chemicals

Daiichi Buys 52.5% Stake in Ranbaxy

11:18 AM MST | November 10, 2008 | Chemical Week Editorial Staff

Daiichi Sankyo (Tokyo) says it has completed the acquisition of a majority stake, or 52.5%, of Ranbaxy Laboratories (Gurgaon, India). Ranbaxy will continue to operate as an autonomous company and will closely work with Daiichi to explore growth opportunities, Daiichi says. Daiichi signed a deal with Ranbaxy last June to acquire shares from Ranbaxy’s founders, the Singh family, and to buy shares through an open offer from ordinary shareholders (CW, June 9/16, p. 33). “The substantial cash being infused by Daiichi Sankyo at this stage will be used to...

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