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...The US Food and Drug Administration provided some help on Thursday when it withdrew its earlier support for generic Nexium from Ranbaxy, because that company’s plants were below standard....
...For Daiichi Sankyo, the $5bn purchase of Ranbaxy in 2008 in India ended badly with a sale this year following regulatory setbacks caused by quality issues....
...The announcement on Monday that Daiichi would sell its stake to Sun Pharmaceuticals for much less than it paid has only crystallised that destruction of value and compounded Japan Inc’s reputation for poor...
...The deal with companies including Cipla and Ranbaxy Laboratories follows months of fierce debate over the price of Sovaldi, which has been hailed as the biggest breakthrough in treatment for hepatitis C...
...In May, Daiichi Sankyo stumbled in its attempt to sell its majority stake in troubled Indian drugmaker Ranbaxy – itself a poster child for how not to do M&A....
...Efforts by pharma groups to expand abroad, including Daiichi Sankyo’s disastrous $4.7bn acquisition of Ranbaxy, an Indian generics maker, have not inspired confidence....
...* From the local media * Sensex closes at a new high of 22,702 as Sun Pharma, Ranbaxy surge (Livemint) Country does not trust Congress: Modi (The Hindu) Polling booths open in India (Economist) * Related...
...Last month, drugmaker Daiichi Sankyo ended its disastrous tie-up with generics producer Ranbaxy....
...It lifts a cloud hanging over Ranbaxy for the past eight years....
...Reddy’s Labs and Ranbaxy as those companies have significant hedge in foreign currency. The numbers out of India’s private sector banks haven’t been as impressive....
...One year later, drugmaker Daiichi Sankyo took a $3.9bn writedown just months after taking control of generics manufacturer Ranbaxy Laboratories – one of the largest foreign deals involving an Indian company...
...The generic drugs industry has come under fresh scrutiny over manufacturing quality following a $500m settlement imposed on Ranbaxy by the DoJ last month....
...Daiichi has not made as much money in the four years since it bought Ranbaxy as it did in the quarter before the acquisition....
...As beyondbrics reported Wednesday, analysts were unsure whether Ranbaxy would receive the approvals in time....
...But, he added: “I don’t think Ranbaxy would be as much in the dark as we are.”...
...Ranbaxy was trading 3.1 per cent higher at Rs406.07. However, it remains unclear when Ranbaxy will be able to resume the exports....
...But Pfizer is expected to generate about $500m in revenues and maintain a 40 per cent market share of Lipitor during the next six months, when Watson Pharmaceuticals and Ranbaxy will be its only competition...
...Daiichi Sankyo, a drugmaker, was forced to take a Y359bn writedown in 2009 within months of buying Indian generic drugs group Ranbaxy after its share price plunged in the face of problems with US regulators...
...Related reading: Cipla’s enlightened self-interest, beyondbrics India approves generic cancer drug, FT Ranbaxy’s high blood pressure day, beyondbrics...
...Ranbaxy Laboratories, an Indian drug company, and Watson Pharmaceuticals are the only companies with rights to sell generic Lipitor for the next six months, at which point other companies can enter the market...
...Takeda’s acquisition followed the lead of Daiichi Sankyo, which purchased Ranbaxy of India in 2008 as a way to diversify into emerging markets and off patent medicines, as well as strengthening its expertise...
...Just two generic companies, India’s Ranbaxy and Watson Pharma, which has agreed a distribution deal with Pfizer, are allowed to compete with Pfizer under a six-month exclusivity agreement....
...drug companies such as Daiichi Sankyo and Takeda, which have expanded into generic medicine and spread their footprint into Europe and emerging markets in the past few years through the acquisitions of Ranbaxy...
...Schincariol is not Japan Inc’s first brush with tough acquisitions....
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