Markets

Ranbaxy, Sun Pharma shares hit 52-week highs

PTI Mumbai | Updated on January 24, 2018 Published on February 02, 2015

Shares of Ranbaxy Laboratories and Sun Pharma saw buying interest today, rising by up to 3.5 per cent, as the US Federal Trade Commission (FTC) completed its review of the proposed $4-billion acquisition of Ranbaxy by Sun Pharma.

Stocks of Ranbaxy climbed 3.46 per cent to Rs 728 — its one-year peak on the BSE. Sun Pharma rose 2.84 per cent to touch its 52-week high of Rs 942.

“The US Federal Trade Commission (FTC) has completed its review of the proposed acquisition of Ranbaxy by Sun Pharma and has granted early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (HSR Act),” Sun Pharmaceutical Industries and Ranbaxy Laboratories said in a joint statement.

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Published on February 02, 2015
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