Ranbaxy Laboratories Limited (NSE/BSE: Ranbaxy/500359) (“Ranbaxy”) and Daiichi Sankyo Company Limited (TSE: 4568.JP) (“Daiichi Sankyo”) today announced the successful closure of their transformational deal with the execution of the final transfer of the remaining equity shares of the Singh family, in Ranbaxy. Pursuant to this, Daiichi Sankyo has now acquired 63.92% of the equity share capital of Ranbaxy comprising 268,711,323 shares as under:
Mr. Takashi Shoda, President & CEO of Daiichi Sankyo said, “We are pleased to announce that all the planned transactions of this landmark deal have been successfully completed. We are determined to work with Ranbaxy to realize sustainable growth.”
Mr. Malvinder Mohan Singh, CEO & MD, Ranbaxy, said, “We are pleased that the deal has been closed successfully. This puts us well on the path to create a hybrid business model that will unlock the strengths of both companies to bring unprecedented value to all stakeholders.”
Ranbaxy earlier had received an amount of Rs. 3,585 crores (USD 736 Million) from Daiichi Sankyo for the preferential issue of equity shares and warrants. This will be used to further drive the Company’s growth through organic and inorganic means while also retiring some debt at an appropriate time.
Continuing to operate as an independent & autonomous Company, Ranbaxy will work closely with Daiichi Sankyo to explore and optimise the growth opportunities across the pharmaceutical value chain.
About Daiichi Sankyo Company, Limited
Daiichi Sankyo Company, Limited, was established in 2005 through the merger of two leading Japanese pharmaceutical companies. This integration created a more robust organization that allows for continuous development of novel drugs that enrich the quality of life for patients around the world. A central focus of Daiichi Sankyo’s research and development are thrombotic disorders, malignant neoplasm, diabetes mellitus, and autoimmune disorders. Equally important to the company are hypertention, hyperlipidemia or atherosclerosis and bacterial infections.
For more information, visit www.daiichisankyo.com.
About Ranbaxy Laboratories Limited
Ranbaxy Laboratories Limited, India's largest pharmaceutical company, is an integrated, research based, international pharmaceutical company producing a wide range of quality, affordable generic medicines, trusted by healthcare professionals and patients across geographies. Ranbaxy’s continued focus on R&D has resulted in several approvals in developed markets and significant progress in New Drug Discovery Research. The Company’s foray into Novel Drug Delivery Systems has led to proprietary "platform technologies," resulting in a number of products under development. The Company is serving its customers in over 125 countries and has an expanding international portfolio of affiliates, joint ventures and alliances, ground operations in 49 countries and manufacturing operations in 11 countries.