New Delhi, July 31: Japanese drug manufacturer Daiichi Sankyo today said it had deferred its open offer to buy an additional 20 per cent stake in Ranbaxy Laboratories because of a delay in getting approval from the Securities and Exchange Board of India.

In a public announcement to shareholders, Daiichi said the revised schedule for the open offer of Rs 6,818.65 crore would be announced separately. The offer was originally scheduled to open on August 8 and close on August 27. Ranbaxy said the “delay was procedural in nature”.

The decision by Daiichi Sankyo comes amid Ranbaxy’s allegations that some entities were trying to hammer its stock by spreading confusion.

US relief

Meanwhile, the US department of justice today said it would withdraw the motion filed against Ranbaxy in a district court as the drug manufacturer had agreed to produce the documents on its manufacturing practices at its Himachal Pradesh facility. Ranbaxy was charged with selling sub-standard drugs in the US.

“The government intends to withdraw the motion upon full and complete production of documents,” the US government said in a reply to Ranbaxy’s response to the motion.

Ranbaxy said it expected the motion to be withdrawn by the first week of August. The company’s shares today rose 1.29 per cent on the BSE.