Japanese third-largest drug maker Daiichi Sankyo Co announced that it has completed the acquisition of India's Ranbaxy Laboratories Ltd.

According to the sources, the conglomerate has completed the proposed take over by purchasing 63.9% stake of Ranbaxy Laboratories for Rs 19,980 crore (about US$ 4.20 billion).

The sources further revealed that Daiichi Sankyo has entered into pact with the generic drugmaker in June to acquire a stake of at least 50.1% through a tender offer.