The announced was made before market hours today, 16 January 2013.
Meanwhile, the BSE Sensex was down 12.98 points or 0.06% at 19,973.84.
On BSE, 15,000 shares were traded in the counter as against average daily volume of 81,596 shares in the past one quarter.
The stock hit a high of Rs 503 and a low of Rs 495.45 so far during the day. The stock had hit a 52-week high of Rs 578.30 on 4 September 2012. The stock had hit a 52-week low of Rs 395.20 on 20 March 2012.
The stock had underperformed the market over the past one month till 15 January 2013, sliding 0.78% compared with the Sensex's 3.47% rise. The scrip had also underperformed the market in past one quarter, declining 9.44% as against Sensex's 6.8% surge.
The large-cap pharmaceutical firm has equity capital of Rs 211.50 crore. Face value per share is Rs 5.
Ranbaxy Laboratories (Ranbaxy) and Daiichi Sankyo Company (Daiichi Sankyo) today, 16 January 2013, announced their intention to integrate their business operations in Thailand, to leverage and maximize the synergies of the Hybrid Business Model, which is expected to commence business on 1 April 2013.
The planned integration of operations will provide a strong foundation for future Daiichi Sankyo Group business expansion in Thailand, a joint press release from Ranbaxy and Daiichi Sankyo said. The development will be mutually beneficial to Ranbaxy and Daiichi Sankyo. It is expected to enhance their competitiveness while offering both innovative and affordable, high quality generic medicines to the people of Thailand as well as generate cost synergies for both companies, the statement said.
Under this strategy, Daiichi Sankyo and Ranbaxy would integrate the management of Daiichi Sankyo's subsidiary in Thailand, Daiichi Sankyo (Thailand) (DSTH) and Ranbaxy's Thailand's subsidiary, Ranbaxy Unichem Co., (RUCL). The new representative of the proposed integrated entity will be Suthas Thongprascrt, who presently heads DSTH, the statement said.
The pharmaceutical market in Thailand is the second largest among ASEAN countries, and DSTH, has built its presence mainly by targeting healthcare facilities through innovative pharmaceuticals. On the other hand, RUCL markets generic medicines focusing on primary healthcare and pharmacies.
The Daiichi Sankyo Group is engaged in the creation and supply of innovative pharmaceutical products to address the diversified, unmet medical needs of patients in both mature and emerging markets. While maintaining its portfolio of marketed pharmaceuticals for hypertension, hyperlipidemia, and bacterial infections, the Group is engaged in the development of treatments for thrombotic disorders and focused on the discovery of novel oncology and cardiovascular metabolic therapies.
Ranbaxy Laboratories reported a consolidated net profit of Rs 754.17 crore in Q3 September 2012, compared with net loss of Rs 464.58 crore in Q3 September 2011. Net sales rose 31% to Rs 2651.39 crore in Q3 September 2012 over Q3 September 2011.
Ranbaxy Laboratories is an integrated, research based, international pharmaceutical company producing a wide range of quality, affordable generic medicines. Ranbaxy serves its customers in over 125 countries and has an expanding international portfolio of affiliates, joint ventures and alliances, ground operations in 43 countries and manufacturing operations in 8 countries. Ranbaxy is a member of the Daiichi Sankyo Group. Through strategic in-licensing opportunities and its hybrid business model with Daiichi Sankyo, a leading global pharma innovator headquartered in Tokyo, Japan, Ranbaxy is introducing many innovator products in markets around the world, where it has a strong presence.
Powered by Capital Market - Live News
