Daiichi Sankyo loses $3.9 bn on Ranbaxy

Japan’s third-largest drugmaker,Daiichi Sankyo,said on Monday it would book an appraisal loss of 359.5 billion yen ($3.9 billion) on a parent-company basis on its stake in India’s Ranbaxy Laboratories.

The Japanese company also said it would book a one-time loss of 354 billion yen on a consolidated basis to reflect the parent-company loss.

Daiichi Sankyo paid nearly 500 billion yen for the 63.9 per cent stake it acquired in the major generic drug maker earlier this year.

Daiichi Sankyo is expected to revise its earnings outlooks for the current fiscal year ending in March on Jan. 30.