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Sun Pharmaceutical Industries Ltd.

Drug Names(s): halobetasol propionate

Description: Ultravate contains halobetasol propionate, a synthetic corticosteroid for topical dermatological use. The corticosteroids constitute a class of primarily synthetic steroids used topically as an anti-inflammatory and antipruritic agent.

Deal Structure: In May 2007, Ranbaxy Laboratories purchased 13 dermatology products from Bristol-Myers Squibb: Balnetar, Desquam-E, Desquam-X, Eurax, Exelderm, Halog, Kenalog Spray, LacHydrin, Lowila, Pernox, Sebulex, Ultravate, and Westcort.

Ranbaxy and Daiichi Sankyo
In June 2008, Daiichi Sankyo and Ranbaxy announced that a binding Share Purchase and Share Subscription Agreement was entered into between Daiichi Sankyo, Ranbaxy and the Singh family, the largest and controlling shareholders of Ranbaxy (the Sellers), pursuant to which Daiichi Sankyo will acquire the entire shareholding of the Sellers in Ranbaxy and further seek to acquire the majority of the voting capital of Ranbaxy at a price of Rs737 per share with the total transaction value expected to be between US$3.4 to US$4.6 billion (currency exchange rate: US$1=Rs43). On the post closing basis, the transaction would value Ranbaxy at US$8.5 billion. The transaction closed in November 2008. In total, Daiichi Sankyo acquired...See full deal structure in Biomedtracker

Partners: Daiichi Sankyo Co., Ltd.

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