With Manipal Hospital Enterprise getting the go-ahead from Fortis Healthcare's Board to take over the latter's hospitals, here's a list of major mergers and acquisitions in the pharmaceuticals sector.

As Fortis Healthcare's Board has approved the de-merger of its hospitals business to Manipal Hospital Enterprises, Dr Ranjan Pai and TPG are expected to invest a whopping Rs 3,900 crore in Manipal Hospitals.

Here's a list of major mergers and acquisitions (M&As) in the pharmaceuticals sector:

Sun Pharma-Ranbaxy merger: In a USD 4 billion deal, Sun Pharma is on track to unlock synergies of USD 300 million by merging Ranbaxy by end-FY18.

Sun Pharma-Taro acquisition: In September 2010, the Mumbai-headquartered company acquired the US-based pharma firm in a USD 273 million deal. Taro has been one of Sun’s most lucrative acquisitions, with payback within 3 years and return-of-capital of 641 percent.

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Torrent Pharma-Elder portfolio acquisition: In a USD 323 million deal, Torrent sought to expand its India portfolio and scale up sub-optimal products. The deal was a hit for Torrent with 23 percent CAGR of Elder’s brands over FY14-17.

Jubilant-Draxis acquisition: In April 2008, Jubilant acquired Draxis in a USD 255 million deal. The acquisition was turned profitable from the second year. However, the US launch of Ruby-Fill, expected in 2010 at the time of acquisition, was delayed and the product was eventually launched in 2017.

Aurobindo Pharma-Natrol acquisition: To foray into nutraceuticals in the US, the Hyderabad-headquartered firm acquired Natrol in a USD 132.5 million deal.

Aurobindo Pharma – Actavis Western Europe biz acquisition: In 2014, Aurobindo took over Actavis in a EUR 30 million deal to expand its presence and portfolio in Europe.