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Ranbaxy to close Daiichi deal by Dec

Ranbaxy to close Daiichi deal by Dec
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First Published: Tue, Oct 14 2008. 02 13 PM IST
Updated: Tue, Oct 14 2008. 02 13 PM IST
Reuters
New Delhi: Ranbaxy Laboratories, which has agreed to be taken over by Japan’s Daiichi Sankyo for $4.6 billion, expects to close the deal by the end of December, its chief executive said on Tuesday.
Ranbaxy is confident of the “quality and efficacy” of its products in the United States, Malvinder Singh told reporters on the sidelines of a business conference.
“I am looking at strengthening India business... (the) U.S (business is) getting back to its strength and growing further.”
Ranbaxy, India’s top drug maker by sales, has been marred by allegations that it sold misbranded or adulterated drugs in the United States. The company has denied the allegations.
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First Published: Tue, Oct 14 2008. 02 13 PM IST