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.
Slapped with Rs 242-crore fine by US authorities for rule violations at Toansa unit, say sources; 2nd such hefty rap in the recent past from US regulators for bending rules.
FDI in brownfield investment has resulted in acquisition of domestic drug-manufacturing firms by multinational companies.
Sun-Ranbaxy are keen to complete the merger process.
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According to sources, the company has identified smaller markets such as Peru, which do not contribute significantly to profits, where it might shut shop in the near term.
'Nothing in this world is permanent. So also in business.' 'And more so in family businesses where family issues often influence business decisions,' point out S Subramanian and Nupur Pavan Bang.
The challenge of merging Ranbaxy into the company has not been factored in.
FDA allows Teva to launch Nexium generic; Cipla, which supplies formulation, to gain
Over-expansion, bad management, and multiple allegations irreparably taint Malvinder and Shivinder Singh
Nifty50 surged 87 points to end at 8,157, highest closing levels since Oct 29, 2015.
Sachin Bansal, who had co-founded Flipkart with Binny Bansal in 2007, would exit the company
FIIs have offloaded stocks worth Rs 13,110 crore
The Sensex ended at at 27,676, lower by 210 points and the Nifty broke the psychological level of 8,400 to end at 83877 down 70 points.
Ranbaxy's US factory, Ohm Laboratories, is learnt to have got a clean chit from the American regulator. This US facility was under surveillance of the Food and Drug Administration (FDA) since the end of 2012.
FDA inspectors visited the Mohali plant in the process of giving approval to Ranbaxy's application for Valsartan.
India is failing to take advantage of its important ally, Japan as much as it should, notes Mihir S Sharma.
Import alert on Ranbaxy's Mohali unit; Strides' injectible arm gets warning letter
And when an inspector asked about the contents of unlabelled vials in the laboratory glassware washing area, a plant worker dumped them down a sink and said the contents could not be determined, according to a July 18 letter from the US Food and Drug Administration to Wockhardt, which makes sterile injectable drugs and various forms of insulin.
In a surprise announcement in April, Sun and Ranbaxy -- at that time owned by Japan's Daiichi -- declared an all-stock deal to create India's largest and world's fifth-largest drugmaker in an over $4 billion deal.
It hopes to turn around Ranbaxy within four years of closing the deal by improving efficiency and resolving all regulatory issues
A glance back at some of the important ups and down Indian Inc faced in 2018.
Singh brothers might be stopped by 'fit & proper' hurdle due to US drug norm violations; firm says confident of qualifying.
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