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Daiichi Sankyo acquires majority of Zenotech for R782.4mm

Executive Summary

A year after postponing an open offer that started in early 2009 for Zenotech Laboratories Inc., Daiichi Sankyo Co. Ltd. has now completed the acquisition of an additional 20% of the public Indian biogeneric firm for R782.4mm ($16.9mm), or R113.62 per share--an 11% premium over Zenotech's average prior to the January 2009 announcement. Daiichi's Ranbaxy Laboratories Ltd. subsidiary now owns 67% of Zenotech.
Deal Industry
  • Biotechnology
    • Large Molecule
  • Contract Research, Toxicology Testing-CRO
  • Pharmaceuticals
    • Generic Drugs
Deal Status
  • Final
Deal Type
  • Acquisition
    • Payment Includes Cash
    • Full Acquisition
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