Sun Pharmaceuticals, one of India’s largest drugmakers is acquiring competitor Ranbaxy Laboratories for $3.2 billion from Japan’s Daiichi Sankyo Co. Daiichi Sankyo, the majority shareholder in Ranbaxy will acquire a 9% stake in Sun Pharmaceuticals after the deal and also has an option to send a board member to Sun Pharmaceuticals. This deal, which comes when Ranbaxy is under some regulatory scrutiny in the USA (according to media reports), will catapult the combined entity to India’s largest pharma company and the world’s fifth largest generic drug maker. Ranbaxy was represented on this deal by Luthra & Luthra Law Offices and Amarchand & Mangaldas & Suresh A Shroff & Co. Daiichi Sankyo was represented by Davis Polk & Wardwell LLP and Amarchand & Mangaldas & Suresh A Shroff & Co. Sun Pharmaceuticals were advised by Shearman & Sterling LLP, Crawford Bayley & Co and S. H. Bathiya & Associates on this deal. The financial advisers for Ranbaxy were ICICI Securities while Sun Pharmaceuticals was advised by Citigroup Inc. and Evercore Partners Inc. Daiichi Sankyo hired Goldman Sachs Group Inc as their financial advisers.
About The Author
L. Gopika Murthy
Gopika is a fourth year student at National Law School of India University, Bangalore. She was formerly the Chief Editor of the Indian Journal of Law and Technology. Her first exposure to Intellectual property law and SpicyIP was through the University Moot Rounds at NLSIU, Bangalore in her first year. She has been regularly following the developments in the field of IPR since then and she hopes to contribute to the reporting of such developments. Her areas of interest in IP include copyrights, open access, fair dealing and trademarks.