Daiichi Sankyo stake in Ranbaxy
This article was originally published in The Tan Sheet
Japan's Daiichi Sankyo buys a majority share of India's top drug maker, Ranbaxy Laboratories, for $4.6 billion, and creates a "substantial powerhouse in the global pharmaceutical business," Ranbaxy's CEO Malvinder Mohan Singh says. Ranbaxy competes in the OTC market through its Ranbaxy Global Consumer Healthcare division, with its leading OTC brand, Revital, increasing market share by 4 percent in March 2008 and with total consumer health care sales growing 28 percent in the most recent quarter. Ranbaxy also announces its entry into Chyawanprash Ayurvedic herbal products, which are promoted to help digestion and boost energy, with Chyawan Active developed by the company's herbal drug research team...
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