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.
Initially, the domestic firm will market Cravit (levofloxacin) used for treating severe bacterial infections in the Malaysian market from January 1, 2012.
Over the past few months, the two firms had been battling in courts over the price of the open offer. SAT's order regarding the status quo of the public offer came after Zenotech's two shareholders -- Jayaram Chigurupati and Narayan -- moved the tribunal against the Securities and Exchange Board of India's nod to Daiichi for the offer at Rs 113 a share.
Daiichi won't remain a major shareholder in Sun Pharma.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances