Corporate Update
Sun Pharma expects revenue synergy from Ranbaxy acquisition
Sun Pharma expects revenue synergy from Ranbaxy acquisition
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By eHealth Network - 28 July 2014
Dilip Shanghvi, Founder and Managing Director, Sun Pharmaceuticals, said that the Ranbaxy acquisition is very important to him because Sun Pharma has never done a deal of this size and complexity in the past, according to a media report.
The Sun Pharma-Ranbaxy deal has received the approval for SEBI and stock exchanges.
Sun Pharma and Ranbaxy now await the assent of shareholders and the Competition Commission of India.
The merger will make Sun Pharma one of the largest players in the domestic market, and the one of the major Indian companies in the US market.
The management of Sun Pharma expects revenue synergy of $250 million (Rs 1,400 crore) over a three year period from Ranbaxy acquisition.
Source: IIFL
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