Billionaire Dilip Shanghvi owned Sun Pharma announced termination of its agreement with Daiichi Sankyo after the later divests its stake in Ranbaxy. In an announcement to the stock exchange, Sun Pharma announced that it has entered into termination agreement with Daiichi and other entities on May 26, 2016.
The umbrella agreement is with respect to cross ownership in the subsidiaries of Daiichi and Ranbaxy in Thailand. While Daiichi arm focussed on branded products, Ranbaxy arm focussed on generic products. Subsequent to the merger Ranbaxy with Sun Pharma, Daiichi has divested it's stake in Ranbaxy.
The termination will not have any financial impact on Sun Pharma.
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