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Daiichi Sankyo exits Sun Pharma entirely

The Japanese drug maker Daiichi Sankyo has sold its entire holding in Sun Pharmaceutical Industries for an estimated Rs 20,420 crore.

Daiichi in a statement on Tuesday said that, “The sale of Sun Pharma shares has been completed.”

Further the company said that it has sold its entire holding of 21,49,69,058 shares in Sun Pharmaceutical at the average share price of about Rs 950, and the value of its share would be Rs 20,420 crore.

Daiichi Sankyo on Monday announced its decision to sell “the entire or part of its holdings of Sun Pharmaceutical shares…”

It further said : ” Daiichi Sankyo will make an announcement concerning the effect of any gain or loss on the sale of Sun Pharma shares when results of operations for the fiscal year ending in March 2015 are announced.”

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