Sun Pharma to acquire Ranbaxy

1.    Sun Pharma to acquire Ranbaxy

i. In a landmark transaction for the Indian pharmaceutical industry, Sun Pharmaceutical Industries (SPL) on Monday announced that it will acquire 100 per cent of Ranbaxy Laboratories in a $ 4 billion all-share transaction.

ii. The transaction has a total equity value of $ 3.2 billion and a net debt of $ 800 million on Ranbaxy’s books will also be part of the transaction.

iii. The combined entity will create the fifth-largest specialty generics company in the world and the largest pharmaceutical company in India with leadership in 13 specialty segments.

iv. The combine will have operations in 65 countries, 47 manufacturing facilities across five continents and a swathe of specialty and generics products including 629 ANDAs (Abbreviated new drug applications).

v. It will also become the largest Indian pharma company in USA with over $ 2 billion sales and a pipeline of 184 ANDAs.

vi. Both companies said that they had entered definitive agreements under which Ranbaxy shareholders will receive 0.8 shares of Sun Pharma for every share of Ranbaxy.

vii. The exchange ratio represents a value of Rs 457 per share of Ranbaxy which is at an 18 per cent premium to the 30-day volume-weighted average share price and a premium of 24.3 per cent to Ranbaxy’s 60-day volume-weighted average share price as on April 4, 2014. The transaction is expected to close by December 2014 and will be EPS-accretive a year after.

2.    Koyal Rana won the Miss India 2014 title

i. Jaipur girl Koyal Rana was Saturday crowned Femina Miss India 2014 at the 51st edition of the beauty pageant.

ii. The first and second runners-up were Jhataleka Malhotra from Mumbai and Gail Nicole Da Silva from Goa respectively.

iii. The trio was selected from the top five finalists of the fbb Femina Miss India 2014 that also included Lopamudra Raut and Nikhila Nandgopal.

iv. Miss India 2013 winners Navneet Kaur Dhillon, Sobhita Dhulipala and Zoya Afroz were on stage at the Yashraj Studio to handover the titled to the winners.

v. The panel of judges are actors Abhay Deol, Jacqueline Fernandez, Vidyut Jamwal, Aditi Rao Hydari, Malaika Arora Khan, fashion designer Manish Malhotra, rapper Yo Yo Honey Singh, Miss World 2013 Megan Young and boxer Vijender Singh.

vi. Rana will represent India at the Miss World international beauty pageant this year.

3.    Iwao Hakamada awarded with the Boxing Belt by WB

i. Iwao Hakamada, the Japanese boxer on 6 April 2014 was awarded with an honorary championship belt by World Boxing Council (WBC). Hakamada was freed from death row on 27 March 2014 after 48 years in prison following a murder conviction. 

ii. On behalf of him, the belt was received by his elder sister Hideko from the WBC president Mauricio Sulaiman.

iii. At present, Hakamada is receiving hospital treatment since being released from the Tokyo prison. The green belt has been sewn by a portrait of Kahamada.

Background 

Iwao Hakamada was accused of robbing and stabbing his boss to death along with his wife and two children. Initially, he admitted to the crime but later said that he was forced to confess on the crime. At the time, when he was accused of the crime, was preparing to return to the professional boxing in 1966.