Daiichi Sankyo divests Sun Pharma stake

The Japanese pharmaceuticals giant has finally exited from its troubled foray into India by selling its entire stake in Sun Pharmaceuticals for $3.2 billion.

Daiichi Sankyo divests Sun Pharma stake

Japanese pharmaceuticals giant Daiichi Sankyo has raised Rs201.46 billion $3.2 billion from the sale of its entire 8.9% stake in Sun Pharmaceuticals, closing the book on its ill-fated foray into India. 

Daiichi Sankyo bought a 63.4% stake in Ranbaxy Laboratories for $4.6 billion in 2008 but was shortly afterwards hit by FDA sanctions and fines for poor product safety controls at the Indian company. 

The Japanese company...

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