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Ranbaxy ends two pacts with Eli Lilly.
: Ranbaxy has announced termination of its two strategic alliances with the US pharma major Eli Lilly one in India and the other in the US for manufacturing of multi source generic products of each other's.
Ranbaxy will get a total of $15 million from Eli Lilly for terminating the two alliances under the terms mutually agreed by the two.
Significantly, the calling off the strategic alliances by Ranbaxy and Eli Lilly comes close on the heels of the US major acquiring Ranbaxy's 50 per cent equity stake in their Indian joint venture.
Ranbaxy had received Rs 72.7 crore for the stake sale in the JV. Ranbaxy will receive almost the similar amount for terminating the two alliances with Lilly. The reason for the decision to terminate the two alliances was not ...
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