Daiichi Sankyo offloads Sun Pharma stake

Published on April 21, 2015 20:03:53 PM
Business
Japan based Daiichi Sankyo has offloaded its entire 9 per cent stake in Sun Pharmaceuticals through multiple block deals for Rs 18,000 crore.

With this transaction, Sun Pharma shares plunged to 11 per cent intraday on Tuesday.

Daiichi Sankyo will not be a major shareholder of Sun Pharma after the stake sale but, the existing business partnership with Sun Pharma will remain unchanged.