Indian drugmakers line up to buy Ranbaxy drugs Sun must sell

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