Insider trading allegations stall Sun–Ranbaxy deal


The merger deal that would create India’s largest pharmaceutical company has been stalled by accusations of insider trading of shares in the lead-up to the takeover announcement. The High Court of Andhra Pradesh has halted the transaction between Sun Pharma and Ranbaxy while the allegations are investigated.

The allegations centre on an unusually rapid increase in Ranbaxy’s share price in the week before the deal was announced. Sun Pharma has denied any wrongdoing, saying in a statement that: ‘The matter related to purchase of shares of Ranbaxy Laboratories does not violate insider trading rules.’


Related Content

Sun set on Ranbaxy rescue

9 April 2014 Business

news image

Acquiring beleaguered firm will create India’s biggest pharmaceutical company

Chemical trade wars on the rise

30 November 2009 News Archive

news image

The Chinese chemical sector is becoming the focus of trade wars as manufacturing capacity increases and trade volumes expand

Most Read

Yeast turned into morphine and opioid biofactories

24 August 2014 Research

news image

Scientists hope that biotech route could protect the drug supply chain from harvest failures and problems with illicit use

No-frills coats set a trend for designer viruses

26 August 2014 Research

news image

An artificial protein that self-assembles around and protects DNA could be ideal for gene therapy, nanomachines and synthetic...

Most Commented

3D printing cuts fuel cell component costs

4 July 2014 Research

news image

Hardware hackers encouraged to exploit new manufacturing approach in open source schemes

Next Mars rover will make oxygen from CO2

4 August 2014 News and Analysis

news image

Mars 2020 will set Nasa’s space exploration on a self-sufficiency course