Categories: Joint Venture

Sun Pharma’s Valia bets on Ranbaxy, picks 1.4%


New Delhi January 10,2014: At a time when many are closely watching the 
Laboratories scrip, , a limited liability partnership firm with Sun Pharmaceuticals’  as one of the partners, has picked up a 1.41 per cent stake in the Indian generic arm of Japanese drug maker .

The holding is viewed as minimal but the move created a buzz on the Street because of its valuation and anticipation thatthe Ranbaxy stock could  bring fortunes for many going forward, if the company secures pending approvals in the US.

According to market analysts, Silverstreet Developers has acquired the stake in Ranbaxy over the past two or three months. Based on Ranbaxy’s closing price of Rs 474.10 on Thursday and the current market cap of Rs 20,089 crore, the stake acquired by Silverstreet is estimated to be valued at Rs 280-300 crore.

Although it would not allow the investment firm any prominent visibility in Ranbaxy, it is being observed because of Valia’s interest.

“Ranbaxy is currently a lottery stock. The firm has a few product approvals pending in the US. If it manages those, the stock will bounce back giving its investors huge profits. On the other hand, if the company falters further, it will be a major loss. Given this situation, an interest from an investor such as Valia may a indicate better future for Ranbaxy,” said an industry source.

Ranbaxy has been awaiting the US drug regulator’s final nod for its generic versions of Novartis AG’s hypertension drug Diovan. Recent enforcements by the US Food and Drug Administration on Ranbaxy’s Mohali facility have also raised fears of a possible delay in the launch of other new products including a generic version of Roche’s anti-viral Valcyte and AstraZeneca Plc’s blockbuster heartburn and ulcer pill Nexium in the US, analysts said.

Valia, who is also the brother-in-law of Dilip S Shanghvi, managing director of , had acquired a 26 per cent stake in a joint venture with Norwegian telecom giant Telenor through his firm,  Lakshdeep Investments & Finance in 2012. Valia has been an independent investor in many mid-sized Indian companies.-Business Standard

The Pharma Times News Bureau

Recent Posts

Lung Cancer Awareness Month

By Dr. C N Patil, HOD and Lead Consultant - Medical Oncology & Haemato-Oncology, Aster…

1 day ago

Unmasking COPD: The Silent Respiratory Threat of Smoking

By  Dr. Pavan Yadav, Lead Consultant - Interventional Pulmonology & Lung Transplantation, Aster RV Hospital …

1 day ago

Khazi India Foundation to Host Expert Cardiac Consultations in Adoni

Kurnool, November 20, 2024: Adoni, Andhra Pradesh, – The Khazi India Foundation is pleased to…

2 days ago

Aakash Healthcare Celebrates Children’s Day with Kids from Choti Si Khushi

New Delhi, November 20, 2024: Aakash Healthcare marked this year’s Children’s Day with a joyful…

2 days ago

Annual eye screening crucial for diabetic patients to protect eyesight: Dr Agarwals Eye Hospital

Dr Agarwals Eye Hospital, Bengaluru, is providing free consultations for diabetic patients aged 50 and…

4 days ago

7 Signs You Are Suffering From Protein Deficiency

By Ms. Archana S, Senior Nutritionist, Aster Whitefield Hospital, Bengaluru As an essential nutrient, protein…

4 days ago