Daiichi Sankyo Seeks to Acquire Three Indian Pharma Firms
Daiichi Sankyo, which in 2008 acquired Ranbaxy, is in takeover talks with at least three mid-sized Indian pharmaceutical companies. Daiichi Sankyo has appointed IMS Consulting Services for the talks and is seeking companies with an annual turnover of Rs300-500 crore that have drugs for treating diabetes, rheumatology, and women’s healthcare.
Tokyo-based Daiichi made its last acquisition in April 2011, when it spent $935 million to purchase Berkeley, California-based cancer drug firm Plexxikon in order to step up its presence in the oncology market. However, its biggest acquisition to date is the 2008 purchase of a majority stake in generic drug company Ranbaxy Laboratories, for around $4.6 billion.
Formed through the 2006 merger between Daiichi and Sankyo pharmaceutical companies, Daiichi Sankyo expanded its generic drug business by establishing Daiichi Sankyo Espha Co in 2010.
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