India’s Sun Pharmaceutical Industries has obtained approval from the US Federal Trade Commission (FTC) to acquire Ranbaxy, in a $3.2bn deal.

Following completion of the acquisition review, FTC granted early termination of the waiting period, under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (HSR Act).

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

In addition, FTC has accepted a proposed consent agreement, where both firms have agreed to sell Ranbaxy’s interests in generic minocycline tablets and capsules to an external third-party.

"Ranbaxy claimed that combining both companies will create the fifth-largest specialty generics company in the world and the largest pharmaceutical company in India."

The deal was first announced in early April 2014. As part of the agreement, Ranbaxy shareholders will secure 0.8 share of Sun Pharma for each share they own.

At the time of acquisition, Sun Pharma managing director Dilip Shanghvi said: "Ranbaxy has a significant presence in the Indian pharma market and in the US where it offers a broad portfolio of ANDAs and first-to-file opportunities.

See Also:

"We see tremendous growth opportunities and are excited with the prospects to create lasting value for both our shareholders through a successful combination of our franchises."

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The Competition Commission of India (CCI) granted approval for the acquisition in early December 2014.

Ranbaxy claimed that combining both companies will create the fifth-largest specialty generics company in the world and the largest pharmaceutical company in India.

Both Daiichi Sankyo, which holds around 63.4% of the outstanding shares of Ranbaxy, and promoters of Sun Pharma have agreed to vote in favour of the transaction, noted Ranbaxy.