Sun Pharma finally completes Ranbaxy acquisition

Indian generic drugmaker Sun Pharmaceutical Industries (BSE: 524715) has at last completed the merger of Ranbaxy Laboratories today, and begins the integration of Ranbaxy's business. Following the closure of merger transaction, Ranbaxy will be delisted from Indian Stock Exchanges.

In April, 2014, Sun Pharma announced that it would acquire troubled rival Ranbaxy in an all-stock transaction worth $4-billion that includes $800 million debt. Since then, the deal has come under scrutiny of competition and financial regulators in India, the USA and Europe. The transaction will not restrict Sun Pharma from making further large acquisitions, the company said, according to a report in India’s Economic Times.

The integration, planned by Sun Pharma over many months, will focus on supporting strong growth. The merger has fortified Sun Pharma's position as the world's fifth largest specialty generic pharmaceutical company and the top ranking Indian pharma company with significant lead in market share, the company said.