3 INDIAN PHARMA COMPANIES IN RACE TO BUY GERMAN CO

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Despite failed attempts to acquire foreign pharma companies, three Indian pharma majors Ranbaxy, Wockhardt and Nicholas Piramal are now looking at acquiring Germany's fourth largest generic firm, betapharm Arzneimittel GmbH. The U.K. based 3i Group PLC, which has a major stake in the German company is planning to sell the company. The 3i Group has appointed investment banks Sal Oppenheim and Bear Stearns to advise on the sale. 3i had bought betapharm for about Euros 300 million last year, a newspaper reported.

Silicon India (http://www.siliconindia.com/shownewsdata.asp?newsno=29928&newscat=Business)