Sun Pharma to buy Ranbaxy in $3.2b deal
India’s Sun Pharmaceutical Industries Ltd said it will buy generic drug maker Ranbaxy Laboratories Ltd, which has hit regulatory snags in its key U.S. market over quality issues, in an all-share deal with total equity value of $3.2 billion. Ranbaxy, India’s No.1 drugmaker by sales and 63.4 percent held by Daiichi Sankyo Co Ltd, is banned from exporting drug ingredients to the United States, while Sun Pharmaceutical’s […]