Profit

Japan's Daiichi to acquire controlling stake in Ranbaxy

PUBLISHED ON: June 11, 2008 | Duration: 3 min, 39 sec

  
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Japanese pharmaceutical group Daiichi Sankyo Co said on Wednesday that it had agreed to buy a majority stake in India's top drug company Ranbaxy Laboratories for up to $4.6 billion. The deal reflects growing efforts by the world's pharmaceutical giants to cope with fierce competition from generic drugmakers based in low-cost economies such as India.
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