|
|
Article: India : Pfizer keen to buy Wockhardt's biotech business.
- Article from:
- TendersInfo
- Article date:
- October 29, 2009
CopyrightCOPYRIGHT 2009 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Byline: pinto03
The world s largest drug company, Pfizer, is going ahead with its plans to buy the biotech business of Wockhardt, but the
Pfizer Mumbai-based drugmaker has not shown any inclination for a sellout.
The $48-billion US firm has kicked off the second round of due diligence that could result in a buyout or strategic alliance, a banker privy to the development said.
Pfizer prefers a buyout and may well pay a hefty premium for Wockhardt s Rs 100-crore biotech business, valuing it close to the Indian company s total market value, the banker said, requesting anonymity.
Wockhardt, the country s sixth-largest company by ...