Daiichi Sankyo agreed to sell Ranbaxy Laboratories to fellow Indian generic drugmaker Sun Pharmaceutical Industries for $4 billion in an all-stock deal. The combined entity will become the fifth-biggest generic-drug firm in the world and the largest biopharmaceutical company in India. "We see tremendous growth opportunities and are excited with the prospects to create lasting value for both our shareholders through a successful combination of our franchises," Sun Pharma Managing Director Dilip Shanghvi said.

Related Summaries