Bids Rumored For Stake In Wockhardt

Cipla And Dr Reddy’s Among Bids Rumored For Late November

A clutch of domestic suitors and global private-equity funds are conducting due diligence with an eye to acquiring segments of debt-laden Indian firm Wockhardt and bids are expected in late November, according to a new report.

Bid
Bids for a stake in Wockhardt could appear in the final week of November, according to a new report • Source: Shutterstock

The race to acquire a chunk of debt-laden Wockhardt’s domestic formulations business is heating up and offers are expected in the final week of November, according to an Indian media report which pushed up shares of the company that makes generic and bio-pharmaceutical formulations, active pharmaceutical ingredients and vaccines.

In the latest development in the loss-making firm’s quest to sell a chunk of itself to reduce its hefty debt,...

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