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India's Sun Pharma plans gradual phase-out of Ranbaxy-branded drugs in U.S.: sources

By Sumeet Chatterjee and Zeba Siddiqui MUMBAI (Reuters) - India's Sun Pharmaceutical Industries Ltd plans to begin phasing out sales of generic drugs branded as Ranbaxy Laboratories Ltd products in the United States, after completing a $3.2 billion takeover of its loss-making rival by the year end, sources with direct knowledge of the matter said.

Japan drugmaker Takeda says will fight $6.0 bn US damages order

Japan's biggest drugs maker Takeda Pharmaceutical said Tuesday it would fight a huge $6.0 billion damages order imposed by a US jury following a trial over the safety of its Actos diabetes medicine. The company said it "respectfully disagrees" with the judgement awarded in the southern state of Louisiana on Monday, which also ordered the firm's co-defendant, US drugs firm Eli Lilly, to pay $3.0 billion in damages. Takeda's Tokyo-listed shares slumped 5.16 percent to 4,572 yen on Tuesday after the court decision.

Mallinckrodt to buy Questcor for lucrative MS drug

By Esha Dey (Reuters) - Specialty pharmaceuticals company Mallinckrodt Plc will buy drugmaker Questcor Pharmaceuticals Inc for about $5.6 billion to gain access to its multiple sclerosis drug, Acthar Gel, which is set to hit sales of $1 billion this year. The acquisition is Dublin-based Mallinckrodt's second in less than two months as it pushes into the lucrative specialty drugs market, which focuses on complex and chronic diseases.

MannKind says FDA delays decision on inhaled insulin treatment

(Reuters) - MannKind Corp said the U.S. Food and Drug Administration extended the review date of its inhaled insulin treatment by three months, sending the company's shares down as much as 22 percent before the bell. The news comes less than a week after an advisory panel to the FDA recommended approving the treatment, Afrezza, but said longer-term studies would be required to gauge the risk of lung cancer and other potential side-effects.

Britain's GSK reveals new bribery probe in Iraq

British drugmaker GlaxoSmithKline (GSK) is investigating alleged corruption by staff at its pharmaceuticals division in Iraq, the group announced on Monday. GSK, which already faces a bribery probe in China, stressed that it would not tolerate illegal behaviour by staff. "We are investigating allegations of improper conduct in our Iraq business. We have zero tolerance for unethical or illegal behaviour," a spokesman told AFP.

Britain's GSK reveals new bribery probe in Iraq

British drugmaker GlaxoSmithKline (GSK) is investigating alleged corruption by staff at its pharmaceuticals division in Iraq, the group announced on Monday. GSK, which already faces a bribery probe in China, stressed that it would not tolerate illegal behaviour by staff. "We are investigating allegations of improper conduct in our Iraq business. We have zero tolerance for unethical or illegal behaviour," a spokesman told AFP.

India's Sun Pharma buys troubled rival Ranbaxy for $3.2 bn

India's third-biggest drugs company Sun Pharma announced Monday a $3.2-billion deal to buy domestic larger rival Ranbaxy from Daiichi Sankyo, ending the Japanese company's costly run as owner. Despite Ranbaxy's huge US safety regulatory problems, Sun Pharmaceutical Industries said the transaction offered "tremendous growth opportunities" thanks to Ranbaxy's "significant presence" in the US market as well as in India and other high-growth emerging markets.

India's Sun Pharma buys troubled rival Ranbaxy for $3.2 bn

India's third-biggest drugs company Sun Pharma announced Monday a $3.2-billion deal to buy larger domestic rival Ranbaxy from Daiichi Sankyo, ending the Japanese company's costly run as owner. Despite Ranbaxy's huge US safety regulatory problems, Sun Pharmaceutical Industries said the transaction offered "tremendous growth opportunities" thanks to Ranbaxy's "significant presence" in the US market as well as in India and other high-growth emerging markets.

Indian drug maker Sun to buy troubled peer Ranbaxy for $4 bn

Top Indian drug giant Sun Pharmaceutical Industries said Monday it had agreed to buy its troubled peer Ranbaxy for $4.0 billion in stock, ending its ill-fated six-year control by Japan's Daiichi Sankyo. The deal will create India's biggest drugs manufacturer by far and leave Daiichi Sankyo with a significant stake in the combined entity. Daiichi Sankyo bought Ranbaxy in 2008, believing its dominance in cheap generic medicines and developing markets would help the firm grow.

India's Sun Pharma buys troubled drugmaker Ranbaxy in $4 billion deal

MUMBAI, India - India's Sun Pharmaceutical Industries says it is buying troubled generic drugmaker Ranbaxy Laboratories in a $4 billion all-stock transaction. The combined company will be India's biggest pharmaceutical firm, with annual revenue estimated at $4.2 billion. Sun Pharma's shares rose 1.7 per cent Monday. Ranbaxy is the leading drugmaker in India's $26 billion generic pharmaceutical industry, but it has faced penalties from U.S. regulators for years. The U.S. has banned imports of drugs from two of its factories because of concerns over quality control.
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