Shares of Ranbaxy Lab and Sun Pharma on Tuesday gained as much as 4 per cent after the drug-makers got CCI's approval for their long-pending $4-billion merger.
Last week, the court had vacated the status quo order it had issued earlier on the merger process between Sun Pharma and Ranbaxy.
The Supreme Court has asked the Andhra Pradesh High Court to take a decision within two days on a plea challenging merger of Sun Pharmaceutical with Ranbaxy.
Disappointed with past experience, domestic majors even skip giving any memorandum.
The FDA has been tightening its monitoring of Indian pharma majors over compliance issues. Surprise plant inspections and import alerts have been frequent outcomes
The merger has fortified Sun Pharma's position.
Competition in the US pharmaceutical market swelled in recent years, with increasing generic penetration.
NPPA suggests expanding the list of essential medicines whose prices are controlled
The joint entity will have a market share of nine per cent in India. Analysts tracking the company said one of the key outcomes of the merger would be to create a single brand entity of Sun and the Ranbaxy brand would eventually dissolve.
Details on prices sought as 10 generic drugs become up to 83 times costlier in 6 months
It hopes to turn around Ranbaxy within four years of closing the deal by improving efficiency and resolving all regulatory issues
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