RANBAXY BIDS $630 M FOR BETAPHARM

The country's largest pharmaceutical company, Ranbaxy Laboratories Ltd, is believed to have put in a bid of $630 million for Germany's fourth largest generic company, Betapharm Arzeniemittel GmbH. There are two other companies in the fray: Teva and Sanofi-Aventis. Confirming the development, investment banking sources said the U.K. based 3i Group, which had put Betapharm up for sale nearly three months ago, was expected to seal the deal in the next 10 days.

Siliconindia (http://www.siliconindia.com/shownewsdata.asp?newsno=30909&newscat=Business)