Indian Drug Cos Eye US' Par Pharma (India)

Executive Summary

Several major Indian pharmaceutical companies are considered possibilities to pursue a takeover of American drug manufacturer Par Pharmaceuticals. Ranbaxy is considered the most-likely choice by market insiders. The company has been looking for promising, U.S. acquisition prospects for some time and Par may represent an opportunity. Wockhardt, Sun Pharma, and Dr. Reddy's are also having their names tossed around. But all of the companies have declined to comment. In fact, Dr. Reddy's denied having any interest in acquiring a U.S.-based company. For its part, Par has several patented drugs in its pipeline; however, most of its interest is in generics. There has been some speculation that the company will sell off its off-patent and patented segments separately, in which case the Indian companies are expected to be interested solely in the generics. Par currently has 100 drugs approved by the U.S. Food and Drug Administration with another 49 applications in the works. (Click here for more