SUN LEADS RACE FOR AMERICAN REMEDIES
Article Abstract:
Sun Pharmaceuticals and Searle (India) of the RPG group are competing to acquire the pharmaceutical company, American Remedies Ltd (ARL) of Chennai. Nicholas Piramal and Ranbaxy Laboratories have opted out and are no longer in contention. ARL's scrip has increased to Rs68.80 on Mumbai Stock Exchange (Rs31.50 on July 30, 1998). ARL's brands include Becozinc, a vitamin-mineral pill, Antoxide, cephalosporin Cefalong, Ampilong and Gris-OD. It also manufactures primrose oil used in gynecology. The promoters of ARL hold 44 percent stake, around 15 percent stake is held by the management and 25 percent by the public. (gs)
Comment:
Competes with Sun Pharmaceuticals to acquire pharmaceutical co American Remedies of Chennai
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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WOCKHARDT ACQUIRES MERIND FROM THE TATAS
Article Abstract:
Wockhardt has acquired Merind Ltd (ML) from the Tatas. ML is the only firm in India that manufactures vitamin B12. It holds second place in manufacturing IV fluids and is a major manufacturer of dextropropoxyphene. It plans to focus on upgrading vitamin B12 and entering hepatitis B vaccine. Mr Habil Khorakiwala and family hold 66 percent stake in the company. For 1997-98, the company has posted a net profit of $17 million on sales of $95 million. (gs)
Comment:
Sells Merind, the only firm in India that manufactures vitamin B12, to Wockhardt
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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