Daiichi Sankyo, the third largest drugmaker in Japan, will buy at least a 51.1% stake in Ranbaxy of India. The two companies have vastly different business plans that they hope will complement each other: Daiichi Sankyo discovers and markets patented pharmaceuticals for the cardiovascular and cancer markets, while Ranbaxy, the largest drug firm in India, is a worldwide force in the generic drug business. Daiichi Sanko estimates it will pay between $4.6 billion and $3.4 billion, a deal that values all of Ranbaxy at $8.5 billion. More details...

Stock Symbols: (TSE: 4568.JP) (NSE/BSE: Ranbaxy/500359) (NYSE: PFE)