Daiichi and Ranbaxy - Top 10 deals of 2008

Who: Daiichi Sankyo
With: Ranbaxy
What: $4.6B stake

Summary: In June Japan's Daiichi Sankyo signed a deal that gave it a leg up in both emerging markets and the generic drug market. The company paid $4.6 billion for a majority stake in India's generics giant Ranbaxy. In addition to the emerging market and generic benefits, Daiichi gained access to Ranbaxy's affordable R&D and manufacturing facilities. Ranbaxy became a subsidiary of Daiichi but Malvinder Singh will remained CEO. The deal was a must for Daiichi, which announced in 2007 that it was aiming for 60 percent over the next three years.