TOKYO, and NEW DELHI, India, July 17 /PRNewswire/ -- Following intense speculation in sections of the media and the stock market, Daiichi Sankyo Company, Limited (TSE: 4568.JP) ("Daiichi Sankyo") and Ranbaxy Laboratories Limited (NSE/BSE: Ranbaxy/500359) ("Ranbaxy") reiterate that the agreement between Daiichi Sankyo, Ranbaxy and the Singh family, the largest controlling shareholders of Ranbaxy, is binding and final, subject to regulatory approvals.
Daiichi Sankyo, Ranbaxy and the Singh family remain committed to the transaction and to the vision of creating a complementary business combination that provides sustainable growth by diversification and an enhanced global reach. Daiichi Sankyo, Ranbaxy and the Singh family stand by the deal and confirm that the terms of the deal remain unchanged. All the synergies expected to accrue to the combine, remain intact as before.
The Share Purchase and Share Subscription Agreement has earlier been unanimously approved by the Boards of Directors of both companies. Coupled with the approval now in place from the shareholders, this clears the decks for the deal to proceed as planned.
About Daiichi Sankyo Company, Limited
Daiichi Sankyo Company, Limited, established in 2005 after the joint share transfer of two leading century-old Japanese pharmaceutical companies, is continuously generating innovative drugs that enrich the quality of life for patients around the world. The company uses its cumulative knowledge and expertise in the fields of cardiovascular disease, cancer, metabolic disorders, and infection as a foundation for developing an abundant product line-up and R&D pipeline.
For more information, visit ( http://www.daiichisankyo.com/ )
About Ranbaxy Laboratories Limited
Ranbaxy Laboratories Limited, India's largest pharmaceutical company,
is an integrated, research based, international pharmaceutical company
producing a wide range of quality, affordable generic medicines, trusted by
healthcare professionals and patients across geographies. Ranbaxy's
continued focus on R&D has resulted in several approvals in developed
markets and significant progress in New Drug Discovery Research. The
Company's foray into Novel Drug Delivery Systems has led to proprietary
"platform technologies," resulting in a number of products under
development. The Company is serving its customers in over 125 countries and
has an expanding international portfolio of affiliates, joint ventures and
alliances, ground operations in 49 countries and manufacturing operations
in 11 countries.
Daiichi Sankyo Co., Ltd.
3-5-1, Nihonbashi Honcho, Chuo-ku,
Tokyo 103-8426, Japan
Director-Public Relations Group, Corporate Communications Department
Plot 90, Sector 32, Gurgaon
Ramesh L. Adige
Executive Director-Corporate Affairs and Global Corporate Communications
Sr. Manager-Corporate Communications
|SOURCE Daiichi Sankyo Company, Limited|
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