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Ranbaxy, Orchid Deal Seen Close To All-India Merger

This article was originally published in PharmAsia News

Executive Summary

India's Ranbaxy Group is considered close to a public offer for another Indian firm, Orchid Chemicals & Pharmaceuticals. The offer would be made through Solrex Pharmaceuticals, which is linked to Ranbaxy and which has increased its shares in Orchid to 14.7 percent. In India, a 15 per cent ownership is considered an offer to public shareholders and an intension to have a voice in the running of a company such as Orchid. Ranbaxy is seen as a potential beneficiary of Orchid's portfolio of antibiotics. Neither firm would comment. (Click here for more
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