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Healthcare

Daiichi Sankyo plans to delist Ranbaxy - report

MUMBAI, March 30 (Reuters) - Daiichi Sankyo 4568.T plans to delist India's Ranbaxy Laboratories Ltd RANB.BO, in which the Japanese drugmaker owns 64 percent, the Financial Express reported on Tuesday, citing unidentified sources.

The newspaper said the third-largest Japanese drugmaker was working on the buyback price to gain full control of Ranbaxy and integrate the Indian firm with itself.

“There are no plans to delist the firm,” a Ranbaxy spokesman told the paper.

Daiichi had bought a majority stake in Ranbaxy in 2008 to diversify its operations into generic drugs and emerging markets.

It expects the Indian firm to account for 23 percent of its targeted 2012/13 revenues. [ID:nTOE62B03J] (Writing by Janaki Krishnan; Editing by Ranjit Gangadharan)

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