Race To Buy Huge Share Of India’s Piramal Said Led By Sanofi-Aventis
This article was originally published in PharmAsia News
The unacknowledged scramble among drug makers to buy a controlling stake in India's Piramal Healthcare is reported to be led by French multinational Sanofi-Aventis. The Indian company continues to deny reports it seeks to sell a large stake, but sources familiar with the dealing say the French drug maker has completed due diligence and could close the deal soon. GlaxoSmithKline also has been mentioned as a suitor for the stake of members of the Piramal family that owned 49.55 percent of the firm as of the end of 2008. (Click here for more
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