Ranbaxy to Bring in Daiichi Sankyo as Majority Partner; Strategic Combination Creates Innovator and Generic Pharma Powerhouse
TOKYO and NEW DELHI, India, June 11, 2008 /PRNewswire/ -- Daiichi Sankyo Company, Limited ("Daiichi Sankyo"), one of the largest pharmaceutical companies in Japan, and Ranbaxy Laboratories Limited ("Ranbaxy"), among the top 10 generic companies in the world and India's largest pharmaceutical company, announced on June 11 that a binding Share Purchase and Share Subscription Agreement (the "SPSSA") was entered into between Daiichi Sankyo, Ranbaxy and the Singh family, the largest and controlling shareholders of Ranbaxy (the "Sellers"). Pursuant to the Agreement, Daiichi Sankyo will acquire the entire shareholding of the Sellers in Ranbaxy and further seek to acquire the majority of the voting capital of Ranbaxy at a price of Rs737 per share with the total transaction value expected to be between US$3.4 to US$4.6 billion (currency exchange rate: US$1=Rs43). On the post-closing basis, the transaction would value Ranbaxy at US$8.5 billion.
For more details, please check full text of the press release from Daiichi Sankyo website: http://www.daiichisankyo.com/
Contact: Motomi Takahashi (for Daiichi Sankyo) Dentsu Public Relations Inc. Phone: +81-3-5565-8434 E-mail: email@example.com Ramesh L. Adige (for Ranbaxy) Executive Director- Corporate Affairs and Global Corporate Communications Ranbaxy Laboratories Limited Phone: +91-124-4135000 E-mail: firstname.lastname@example.org
CONTACT: Motomi Takahashi of Dentsu Public Relations Inc.,+81-3-5565-8434, , for Daiichi Sankyo; Ramesh L.Adige, Executive Director, Corporate Affairs and Global CorporateCommunications of Ranbaxy Laboratories Limited, +91-124-4135000,, for Ranbaxy email@example.com firstname.lastname@example.org
Web site: http://www.daiichisankyo.com/
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Posted: June 2008