Ranbaxy Laboratories and Sun Pharmaceutical Industries’ merger deal has hit legal hurdle after Andhra Pradesh High Court asked stock exchanges as well as Securities and Exchange Board of India (SEBI) to maintain an interim status-quo on the merger or an arrangement or an amalgamation of Sun Pharma and Ranbaxy Laboratories.
The order, issued on Friday, was in response to a petition filed by some individual investors, who alleged insider trading in Ranbaxy shares before announcement of the deal on April 6. The Andhra Pradesh High Court has said that unless and until they hear this and gives a decision on this matter of an insider trading; no clearances should be given to this deal.
Ranbaxy Laboratories is an integrated, research based, international pharmaceutical company producing a wide range of quality, affordable generic medicines, trusted by healthcare professionals and patients across geographies.
Company Name | CMP |
---|---|
Sun Pharma Inds. | 1508.40 |
Dr. Reddys Lab | 6332.85 |
Cipla | 1424.40 |
Zydus Lifesciences | 992.00 |
Lupin | 1663.00 |
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