Daiichi offers to buy further 20% in Zenotech
Japanese drug major Daiichi Sankyo has launched an open offer to acquire a further 20% stake in India, Hyderabad-based drug company Zenotech Laboratories.
The offer is an obligation that falls to Daiichi as part of its acquisition of Indian generic giant Ranbaxy Laboratories. The price of Daiichi's open offer was not disclosed.
In October 2007, Ranbaxy bought a 38% additional stake in Zenotech, taking its shareholding to 45%, but stressed that it does not want to take over the company outright.
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