Sunpharma to buy the stack in Ranbaxy
The biggest Indian pharmacuetical company Sunpharma is aquiring the 100% equities in Ranbaxy. Sun Pharmaceutical will buy 100% shares of Ranbaxy, the deal is estimated at $400 crore and each share is valued at Rs.457. The is expected to close by December 2014 after all approvals.
Ranbaxy was facing lot of troubles, US Food and drug department cancelled the license of Ranbaxy after a inspection was done. The factory of Ranbaxy didnot meet the standards of FDA.
Sunpharma will be the biggest pharma company once the deal is closed and will be the fifth largest generic drugs manufacturing company in world.