Sun Pharma eyes Meda for $5-6 bn

 Sun Pharmaceutical Industries Ltd is in talks to buy Sweden's Meda AB for between $5 billion and $6 billion to boost its generics business in developed markets, two sources with direct knowledge of the process said.

Meda makes speciality products, over-the-counter drugs and branded generics — the same areas of focus as Sun. The Swedish company had sales of about 13 billion crowns in 2012 and has a stock market value of roughly $4 billion.

Sun is India's most valuable drugmaker, with a market capitalisation of some $20 billion, and has made several acquisitions in recent years. But a deal for Meda would be the largest yet for a company which had cash of 40.6 billion rupees at the end of March.

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