Pfizer may counter Daiichi Sankyo bid for Ranbaxy

Global drug giant Pfizer may make a counter-bid for India's Ranbaxy Laboratories against Japanese drugmaker Daiichi Sankyo's $4.6 billion offer.

Daiichi made the deal with Ranbaxy's primary shareholder, the Singh family, to acquire their 34.8% share earlier this week (Marketletter June 16). The Indian Business Standard newspaper claims, however, that the drug major may attempt to buy up the 65% share of Ranbaxy held by institutions and public shareholders in a bid to overcome the Japanese firm's takeover.