Wockhardt Of India Said Discussing Biotech Division Sale To Pfizer
This article was originally published in PharmAsia News
Executive Summary
India's Wockhardt is in serious discussions with U.S.-based Pfizer's bid to acquire the Indian drug maker's biotechnology and veterinary divisions. Under the deal being discussed, according to sources, is a Wockhardt spin-off of those two divisions into separate companies and then Pfizer purchasing them. One executive said the deal could be signed by the end of June. Wockhardt is said to be seeking funds to pay off some of its major debt load. (Click here for more