Sun Pharma Bid to Buy Ranbaxy Gets India Antitrust Approval – Bloomberg

India’s antitrust regulator cleared Sun Pharmaceutical Industries Ltd. (SUNP)’s $5.3 billion proposal to buy Ranbaxy Laboratories Ltd. (RBXY) contingent on the companies selling some overlapping brands.

The Competition Commission of India ordered Sun and Ranbaxy to sell seven brands in which the merged company would have “appreciable adverse effect” on domestic competition as a result of market share, the commission said on its website yesterday.

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