Japan firm to buy stake in India's top drug company
Updated
The Japanese pharmaceutical firm, Daiichi Sankyo, says it has agreed to buy a majority stake in India's top drug company, Ranbaxy Laboratories, for up to $US4.6 billion.
Ranbaxy is a leading producer of generic drugs.
Once the deal goes through, Ranbaxy is expected to become a subsidiary of the Japanese firm.
The deal, which is subject to shareholder and regulatory approval, is expected to be completed by the end of March next year.
