Business

Sun completes Ranbaxy merger, to invest over $300 mn in R&D

Sun Pharmaceutical Industries Ltd has completed its merger with Ranbaxy. The integration, planned by Sun Pharma over many months, will focus on supporting strong growth.

Following the closure of this transaction, Ranbaxy will be delisted from the Indian Stock Exchanges. Ranbaxy shareholders will receive 0.8 share of Sun Pharma for each share of Ranbaxy.

Following the merger Sun Pharma will be world’s fifth largest specialty generic pharmaceutical company and the top ranking Indian Pharma company with a combined revenue of $ 5.14 billion.

According to a statement, the combined entity’s manufacturing presence covers 5 continents with a stronger presence in US, India, Asia, Europe, South Africa, CIS & Russia and Latin America. 

Post-merger, Daiichi Sankyo, promoters of Ranbaxy, becomes the second largest shareholder in Sun Pharma

Dilip Shanghvi, Managing Director, Sun Pharma said, “It is an important milestone in the history of Sun Pharma as we enter into a new phase of growth. We will continue to focus on gaining trust of the Regulators globally while continuing to develop products based on patient needs and leverage them to become brand leaders globally.” 

The combination allows Sun Pharma to expand its R&D capabilities and global presence ; enhance product portfolio and market depth in India, US as well as Rest of the World markets and ability to pursue partnerships and strengthen M&A bandwidth, stated the release.