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With $4-billion merger complete, Sun Pharma to delist Ranbaxy

With $4-billion merger complete, Sun Pharma to delist Ranbaxy
Sun Pharmaceutical on Wednesday said that Ranbaxy will be delisted from the bourses following the completion of their $4-billion merger. “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,” Sun Pharma said in filing to the BSE.

The merger has fortified Sun Pharma’s position as the world’s fifth largest speciality generic pharmaceutical firm and the top ranking Indian pharma company with significant lead in market share, it added. Sun Pharma MD Dilip Shanghvi said, “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 combined entity’s manufacturing footprint covers five continents with products sold in over 150 nations with a stronger presence in the US, India, Asia, Europe, South Africa, CIS & Russia and Latin America, it added. Post-merger, Daiichi Sankyo becomes the second largest shareholder in Sun Pharma and both the companies will work together to leverage this relationship for global business growth, Sun Pharma said.

“The combined entity will capitalise on the expanded global footprint and enhance our dominance as a world leader in the speciality generics landscape,” Sun Pharma Chairman Israel Makov said.

PTI

PTI

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