Issue Date: April 27, 2015
Daiichi Sankyo Bows Out Of India
Daiichi Sankyo has sold all of its shares in India’s Sun Pharmaceutical Industries, thereby closing the door on its ill-fated move into generic drug production in India. The Japanese drug firm got the Sun shares after selling its Ranbaxy Laboratories subsidiary to Sun through a stock swap in March. Daiichi bought control of Ranbaxy in 2009, only to see the firm encounter years of regulatory problems. A year ago, Sun agreed to buy Ranbaxy for about $4 billion. Daiichi will provide financial details on the sale next month when it reports results for the fiscal year that ended on March 31.
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