Sun Pharmaceutical wins US approval to buy Ranbaxy

Ranbaxy has been involved in a wrangle with the US Food and Drug Administration, which has barred a range of its medicines from the US.

By: Reuters
Washington | February 1, 2015 01:53 AM IST

1 min read

Sun Pharmaceutical Industries Ltd has won US approval to buy Ranbaxy Laboratories Ltd on condition that it sell its interest in a generic antibacterial medicine, the US Federal Trade Commission said on Friday.

Sun Pharmaceutical said in April that it had agreed to buy the Indian generic drugmaker from its current owner, Daiichi Sankyo Co, for $3.2 billion. Ranbaxy has been involved in a wrangle with the US Food and Drug Administration, which has barred a range of its medicines from the US after finding that some of the company’s plants did not meet US standards. The FTC, did not weigh in on the safety issue but said it would allow the transaction if Ranbaxy sold its interests in generic minocycline tablets and capsules to Torrent Pharmaceuticals.