Oct. 8 (Bloomberg) -- Daiichi Sankyo Co., the Japanese drugmaker buying control of India's Ranbaxy Laboratories Ltd., fell the most on record in Tokyo trading ahead of a presentation of its global strategy.

Daiichi Sankyo tumbled as much as 14 percent, the biggest decline since Sankyo Co. bought Daiichi Pharmaceutical Co. in 2005, and dropped 275 yen, or 11 percent, to 2,290 yen as of 12:35 p.m. on the Tokyo Stock Exchange.

The company, Japan's third-biggest drugmaker, declined to comment on the share drop ahead of a 1:30 p.m. meeting where Chief Executive Officer Takashi Shoda will present his strategy to reporters and analysts. The briefing was arranged previously.

The stock may be falling on concern Daiichi Sankyo will book losses from writedowns related to the Ranbaxy offer, Yo Mizuno, an analyst at Daiwa Institute of Research in Tokyo, said today by telephone. He rates the shares ``outperform.''

Daiichi Sankyo agreed in June to pay 737 rupees a share, or as much as 198 billion rupees ($4.1 billion), for majority control of Ranbaxy to enter the market for generic drugs, where sales are growing almost twice as fast as demand for branded medicines.

Ranbaxy closed at 256.1 rupees in Mumbai trading yesterday and has dropped 54 percent since Daiichi Sankyo's offer.

Daiichi Sankyo, which sells the Benicar hypertension drug, and its partner Eli Lilly & Co. are awaiting U.S. approval to sell the experimental blood thinner prasugrel. The decision, expected last month, was delayed because regulators requested more time to review patient studies.

To contact the reporter on this story: Kanoko Matsuyama in Tokyo at kmatsuyama2@bloomberg.net.

Last Updated: October 7, 2008 23:46 EDT