Pharma major Daiichi Sankyo. Its shares are rallying 3.1% on news Sun Pharmaceutical Industries is buying Daiichi Sankyo’s Indian unit Ranbaxy Laboratories in an all-stock deal that is worth $4 billion estimated.
Ranbaxy has suffered some high-profile recalls since Daiichi Sankyo bought it, and with the new deal, the Japanese firm will instead become the second-largest shareholder in Sun Pharma.
Ranbaxy has suffered some high-profile recalls since Daiichi Sankyo bought it, and with the new deal, the Japanese firm will instead become the second-largest shareholder in Sun Pharma.