Pharma BD Deal Intelligence

Sun Pharmaceutical Industries Ltd. / Ranbaxy Laboratories Limited

2015 · Acquisition/Merger · $4.0B · Complete

CALLED IT — OFF BY 14
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The coverage arc

Jan 30, 2015 BioPharma Dive Neutral

FTC required Sun and Ranbaxy to divest generic minocycline assets to Torrent before closing, citing reduced competition risk in three dosage strengths.

Oct 22, 2015 Business Today (citing Emkay Global) Bearish

Emkay analysts flagged Halol approval uncertainty, generic Gleevec launch timing, and Ranbaxy India acute therapy integration as near-term concerns;…

Aug 21, 2019 Fierce Pharma Bearish

Sun paid $485M to settle Ranbaxy-inherited antitrust litigation tied to delayed generic Nexium and Lipitor — a tail liability that bit four years post-close.

Source summaries from our enrichment pipeline; follow links for originals.

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Sun Pharma completed the all-share acquisition of Ranbaxy from Daiichi Sankyo (which held 63.4%) on March 25, 2015 in a $4B transaction (announced April 7, 2014), creating the world's fifth-largest generic drug maker. Each Ranbaxy share exchanged for 0.8 Sun Pharma share.

Did it work? Outcome assessment

Strategic verdict
Partially Achieved
Financial impact
Dilutive
Pipeline outcome
Mixed

Key facts

Related deals — scored

DealYearValueOutcome
Sun Pharmaceutical Industries Ltd. / Ranbaxy Laboratories Limited (this deal)2015$4.0B52
Sun Pharmaceutical Industries Ltd. / Ranbaxy Laboratories Limited2014$4.0B66
Sun Pharmaceutical Industries Ltd. / DUSA Pharmaceuticals, Inc.2012$230M49
Sun Pharmaceutical Industries Ltd. / URL Pharma, Inc. (generics business)2012$60M34
Sun Pharmaceutical Industries Ltd. / Organon & Co.2026$11.8B
Sun Pharmaceutical Industries Ltd. / Checkpoint Therapeutics, Inc.2025$355M
Watson Pharmaceuticals (Actavis Inc.) / Actavis plc2012$5.9B97

Compare all 7 side-by-side →

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