Daiichi and Ranbaxy to tie the knot

June 13, 2008

The largest Indian drugmaker is hooking up with a Japanese pharmaceutical firm.

Ranbaxy, the largest drug company in India, has agreed to sell a majority stake of its firm to the Japanese drugmaker Daiichi Sankyo for up to $4.6 billion. The deal will vault Daiichi into the top ranks of generic companies in this country. Industry insiders believe this move makes sense when generic drug sales are growing like topsy in the United States while brand drug sales have slowed.

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