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Sun Pharmaceutical Industries Ltd (SUNPHARMA.NS), Ranbaxy Laboratories (RANBAXY.BO) Merger Equals Generic Powerhouse: Layoffs Projected To Save $250 Million In Costs


4/14/2014 7:00:03 AM

Sun Pharma is axing jobs but others are hiring too! Check it out! (Isn't it tempting?)

The merger of Sun Pharmaceutical Industries Ltd and Ranbaxy Laboratories Ltd will create the world’s fifth biggest generic drug maker, but it will also result in job redundancies. Sun Pharma has estimated that it will save $250 million (Rs.1,505 crore) in the third year of the merger because of operating synergy, which will likely come from trimming the field force of the two companies and integration of its supply chain. Sun Pharma agreed to acquire Ranbaxy last week in a $3.2 billion all-stock purchase. While at least 40% of this savings is expected from a cut in sales force at various locations, another 20-25% is expected through rationalizing the distribution channel, mainly in India and the US.

Don't forget, hundreds of biopharma companies are hiring! (We know you can't resist.)

Read at Live Mint

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