Sun Pharmaceutical Bought Ranbaxy
Indian generics manufacturer Sun Pharmaceutical announced the closing of its acquisition of Ranbaxy for $ 3.2 billion.
Absorption Ranbaxy will allow Sun Pharmaceutical strengthen its position in the generics market. As noted in a press release by combining the assets of the companies, pharmaceutical products will be released on the territories of 150 countries. Producers of generics are most actively represented in the the U.S., India, the EU, South Africa, Russia and the CIS, Latin America.
Decision to purchase Sun Pharmaceutical Ranbaxy shares was made a year ago. Ranbaxy then tried to overcome the measures taken against it by US regulators. The company faced serious difficulties after the FDA ban on the import of drugs produced in four of the five Ranbaxy plants in Indiadue to improper quality. Prior to the ban, US market brought of its total revenue.
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