Sun Pharmaceutical Industries Ltd has completed the $3.2 billion acquisition of Ranbaxy Laboratories Ltd on Wednesday. This merger will make Sun Pharma the largest pharmaceutical company in India with a market share of 9.2% and sales of $1.1 billion, as well as the world's fifth largest maker of generic drugs after Teva, Sandoz, Activas and Mylan.
Dilip Shanghvi, Sun Pharma managing director, said, "The merger has created a combined entity which has much more managerial capability. We will look to retain and nurture the talent. The company would invest more than $300 million (over Rs.1,800 crore) in research and development in 2015, which would be 6-7% of the combined revenue."
Following the merger, Ranbaxy will be delisted from Indian stock exchanges, and each Ranbaxy shareholder will receive 0.8 share of Sun Pharma for each share of Ranbaxy.