Daiichi Sankyo acquires 20 percent in holdings of Ranbaxy

TOKYO Daiichi Sankyo has purchased a 20 percent stake in Ranbaxy Labs, Daiichi Sankyo said Friday.

The purchase puts the Japanese drug maker well on its way to acquiring a majority stake in the Gurgaon, India-based generic drug maker. Daiichi will also buy a stake of almost 35 percent from the family that founded the company.