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India’s Wockhardt Selling Two Foreign Subsidiaries To Raise Funds

This article was originally published in PharmAsia News

Executive Summary

Wockhardt of India is putting Negma Laboratories, a France-based subsidiary up for sale, one of at least two Wockhardt plants to be disposed of. The sales are part of a plan to raise funds to repay investors, according to an equity fund executive. Wockhardt also plans to sell its Irish subsidiary. The fund executive said the sales have become necessary because the company has not been able to work out deals with potential investors. (Click here for more
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