Indian Pharmacy industry is going global. Ranbaxy Laboratories run by Singh family is being acquired by Daiichi Sankyo, Japan’s third largest drug maker.

Reports say that Sanko would purchase the 35 percent stake held by Ranbaxy. It would spend 4.6 billion dollars for buying Ranbaxy stake and expanding its non-branded drug market.

"This is a significant milestone in our mission of becoming a research based international company"-said Malvinder Mohan Singh, chief executive and Managing Director of Ranbaxy.

Experts say Indian homegrown generic pharmaceutical industry can overcome lack of research oriented global growth. This is said to be a chance of Indian industry to compete with global rivals.

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