India’s Sun Pharma to buy struggling Ranbaxy for $3.2 billion as Daiichi Sankyo retreats

TOKYO/MUMBAI (Reuters) – India’s Sun Pharmaceutical Industries Ltd has agreed to buy generic drugmaker Ranbaxy Laboratories Ltd for $3.2 billion, betting it can fix factory quality glitches that plagued the current owner, Japan’s Daiichi Sankyo Co , and got Ranbaxy India-made drugs barred from the United States.

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