Daiichi Sankyo Records ¥354 Billion Valuation Loss From Price Drop In Ranbaxy Shares
This article was originally published in PharmAsia News
Executive Summary
Daiichi Sankyo announced Jan. 5 a valuation loss of ¥354 billion for the fiscal quarter ending Dec. 31; the loss is associated with a more than 50 percent price drop in Ranbaxy shares the company acquired. With the loss, it is viewed that the company will report a loss in consolidated profit for the fiscal year ending March 31. Daiichi has previously estimated ¥65 billion in profit. It will be the first loss for the company since the merger of Daiichi and Sankyo in 2005. (Click here for more - Japanese language