Luthra, Amarchand, Crawford, Shearman, Davis Polk advise on Sun Pharma’s $4 billion acquisition of Ranbaxy

Indian drug maker, Sun Pharmaceutical Industries shall be paying about $4 billion in an all-stock deal to acquire generic drug maker Ranbaxy Laboratories. Daiichi Sankyo, the majority shareholder in Ranbaxy will acquire a 9 per cent stake in Sun Pharmaceutical after the deal..Luthra & Luthra and Amarchand Mangaldas acted as the legal counsels for Ranbaxy. The Luthra team was led by Managing Partner Rajiv Luthra along with Partners Bobby Chandiok, Sameer Dudoria, Sandeep Dudeja, Damini Bhalla and Vaibhav Kakkar..Amarchand Mangaldas also acted for Daiichi Sankyo along with Davis Polk & Wardwell LLP..The Amarchand team was led by Managing Partner Cyril Shroff along with Corporate Partners Nivedita Rao and Gurpreet Vasir Ashar..Davis Polk Partner Michael Davis along with Associate Brian Friedman acted for Daiichi Sankyo..Crawford Bayley acted as the domestic legal counsel for Sun Pharma while Shearman & Sterling acted as international legal counsel..The Crawford team was led by Partner Sanjay Asher along Senior Associate Bhumika Batra. The Shearman team was led by Partners Peter Lyons and Elizan Swan..Citi and Evercore acted as financial advisors for the transaction to Sun Pharma while Ranbaxy’s financial advisor is ICICI Securities. Daiichi Sankyo’s financial advisor for the transaction is Goldman Sachs, according to the press release..The combined entity will be India’s largest pharma company and the world’s fifth-biggest generic drugs maker..The deal comes at a time when Ranbaxy has hit regulatory snags in U.S. market over quality issues and is under the scrutiny of US regulators who have imposed import bans on drugs manufactured at some of its facilities, according to media reports.