Wockhardt divests nutrition to Danone but lender issues skid stock
This article was originally published in Scrip
Shares of Wockhardt declined by about 4% on Indian markets the morning after the company announced the sale of its nutrition business to French food giant, Danone, for about €250 million amid concerns that legal issues involving certain lenders may pose challenges.
You may also be interested in...
Strong showing by Dr Reddy’s in Europe in fiscal fourth quarter amid a string of launches and a ramp-up in France, Italy and Spain, with the Indian firm anticipating continued momentum in the region by leveraging its global portfolio. China growth strategy 'still valid', management maintains.
Informa Markets’ recent webinar on COVID-19 and its impact on the Indian pharmaceutical industry deliberated a range of burning issues across the sector’s spectrum of activities, including efforts to stem India’s vulnerable dependency on active pharmaceutical ingredients imported from China, current trends for the excipients and pharma machinery segments and how industry is handling demand-supply disruptions in these challenging times.
Cipla’s fourth-quarter 2020 sales were hit because of COVID-19- related dispatch challenges, though it remains upbeat about the prospects of interchangeable albuterol and the latest filing for generic Advair Diskus as part of its quest for lung leadership.