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Business
Daiichi Sankyo Bows Out Of India
by Ann M. Thayer
April 27, 2015
| A version of this story appeared in
Volume 93, Issue 17
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.
The power is now in your (nitrile gloved) hands
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