Ranbaxy sale to Sun Pharmaceuticals appears on track

The U.S. Federal Trade Commission said the $4 billion deal for Japan's Daiichi Sankyo to sell its troubled Ranbaxy Laboratories unit to Sun Pharmaceutical looks to be OK as long as Ranbaxy divests its generic minocycline antibacterial to Torrent Pharmaceuticals. Daiichi has been looking to rid itself of Ranbaxy following a number of plant issues in India that have resulted in FDA investigations and warnings. The FTC issued a consent order for comments that runs through March 3, then the agency will decide whether to grant the final order for the merger. If approved, Sun has said the deal could close within weeks. Story