Daiichi Sankyo Company, Japan has completed sell of its entire holdings in Sun Pharmaceutical Industries. The company sold 214,969,058 equity shares. The board of directors of Daiichi Sankyo approved a resolution on April 20, 2015, to sell entire or part of its holding of Sun Pharma shares. The Sun Pharma shares declined sharply by Rs. 94 to Rs. 949.70 on BSE in the morning session.
During March 2015, Daiichi Sankyo, received the shares of Sun Pharma following the completion of Sun Pharma’s merger with Ranbaxy Laboratories.
From the perspective of the improvement of corporate value, Daiichi Sankyo has performed a review of the Sun Pharma shares and reached a conclusion to sell the shares entirely. After the sale, Daiichi Sankyo will not be a major shareholder of Sun Pharma. However, the existing business partnership with Sun Pharma will remain unchanged.