Navigation Links
Ranbaxy in Fray to Buy Merck's Generic Drugs Unit

Davos: After six global acquisitions last year, India's Ranbaxy Laboratories has entered the market again to acquire the generic drugs business of German// pharmaceuticals major Merck in a deal estimated at over $5 billion.

‘We are in talks with private equity funds to finance the deal,’ Ranbaxy's chief executive Malvinder Singh said on the margins of the annual meeting of the World Economic Forum (WEF) here. ‘We are being hounded by them for the takeover.’

According to Singh, the due diligence for the acquisition was expected to start next month. He, however, declined to give any financial details.

‘Merck makes sense for us since it would result in a major gain for us in the global generics business and a strategic fit for our activities,’ Singh said, adding: ‘I have been talking to some private equity funds even here.’

According to pharmaceutical industry sources, Merck's generics business records annual revenues around $2.5 billion and has the potential to more than triple Ranbaxy's turnover to around $3.75 billion after the acquisition.

The merger of Ranbaxy and Merck's generics business could result in a stable of 100 products in the US alone for drugs in diabetics, neurology, cardiovascular and neurology, among other areas.

The generics unit of the German major is the largest supplier in markets like Australia, France and Scandinavia.

Ranbaxy had acquired four companies in Europe last year, including Terapia of Romania, for $324-million. The company has approval from shareholders to sell bonds and shares worth $1.5 billion.

Source-IANSSRM
'"/>




Page: 1

Related medicine news :

1. Ranbaxy joins hand with Cipla to co-market ciprofloxacin
2. Ranbaxy gets US FDA approval for Lisinopril
3. Ranbaxy Labs Entry Into Anti-Acne Market
4. Ranbaxy trying to make inroads in herbal drugs market
5. Lamivudine Manufactured By Ranbaxy gets the nod from the US FDA
6. Ranbaxy Pharmaceuticals Inc awarded the prestigious outstanding supplier award received from Wal-Mart
7. Ranbaxy opens Drug discovery centre in Gurgaon
8. Ranbaxy Laboratories All Set To Export Bird Flu Vaccines
9. SRL Ranbaxy offers quicker bird flu diagnostic test
10. Diagnostic Test Launched by Ranbaxy for En Masse Screening of Bird Flu
11. Ranbaxy Launches Once-a-day Inhaler For Asthma Patients
Post Your Comments:
*Name:
*Comment:
*Email:


(Date:10/13/2017)... Abilene, Texas (PRWEB) , ... October 13, 2017 , ... ... publication this week that explains one of the most popular and least understood books ... seems like cryptic and puzzling descriptions that have baffled scholars for centuries. Many have ...
(Date:10/12/2017)... WILMINGTON, Del. (PRWEB) , ... October 12, 2017 ... ... technology and advisory services for healthcare compliance program management, will showcase a range ... and National Association for Assisted Living (NCAL) Convention and Expo to be held ...
(Date:10/12/2017)... ... , ... The American College of Medical Informatics (ACMI) will present the 2017 ... Session of AMIA’s Annual Symposium in Washington, D.C. AMIA’s Annual Symposium is ... pioneer in the field of medical informatics, this prestigious award is presented to an ...
(Date:10/12/2017)... , ... October 12, 2017 , ... Leading pediatric oncology ... in Washington, D.C., for the 49th Congress of the International Society of Paediatric ... President of the Center for Cancer and Blood Disorders at Children’s National, ...
(Date:10/12/2017)... Miramar, FL (PRWEB) , ... October 12, 2017 ... ... is presenting the latest in wound care advancements to physician colleagues, skilled nursing ... lecture is titled, "Navigating the Treacherous Waters of Wound Care." , "At many ...
Breaking Medicine News(10 mins):
(Date:10/2/2017)... , Oct. 2, 2017 The Rebound mobile ... the struggle to reverse the tide of prescription drug addiction. ... regulating their medicine intake and stepping down their dosage in ... to launch in December 2017; the first 100,000 people to ... more at http://www.rebound-solution.com/ ...
(Date:9/27/2017)... 2017  Commended for their devotion to personalized service, SMP ... number one in the South Florida Business Journal,s 50 Fastest-Growing ... yearly list, the national specialty pharmacy has found its niche.  ... will soon be honored by SFBJ as the 2017 Power ... Set to receive his award in October, Bardisa said of ...
(Date:9/25/2017)... , Sept. 25, 2017  EpiVax, Inc., ... vaccine design, and immune-engineering today announced the launch ... the development of personalized therapeutic cancer vaccines. EpiVax ... provided exclusive access to enabling technologies to the ... MBA will lead EpiVax Oncology as Chief Executive ...
Breaking Medicine Technology: