Govt approves Daiichi-Ranbaxy deal

India has approved Daiichi Sankyo's stake purchase in the country's top drug maker by sales, Ranbaxy Laboratories, Finance Ministry said in a statement on Wednesday. Japan's Daiichi has agreed to buy a 34.8 per cent stake in Ranbaxy and aims to take up to 20 per cent more from the open market in deals worth up to $4.6 billion. The Japanese drug maker will also make an open offer to buy up to 20 per cent of shares in another Indian firm, Zenotech Laboratories, which is 47 per cent owned by Ranbaxy.