SINGAPORE--At least 5 Indian drugmakers are reported to be interested in the 7 drugs Sun Pharmaceuticals has to sell before it can close its yearlong acquisition of Ranbaxy Laboratories.
|Sun Pharma Managing Director Dilip Shanghvi|
One of the potential bidders is Natco Pharmaceuticals, but the Economic Times said it was told by a source that Sun Managing Director Dilip Shanghvi has personal shares in Natco, giving him a potential conflict of interest that could disqualify the company.
The others suitors were said to be Cipla, Emcure, Intas Pharmaceuticals and Mylan ($MYL). The drugs are antidepressants, treatments for heart diseases and other diseases in the category of chronic ailments.
A consultant estimated Sun's sale of the drugs could be completed within a month.
The Competition Commission of India required the divestiture of the drugs to avoid excessive control of that market by the merged company that would be the nation's largest pharmaceutical firm.
- read the Economic Times article