Wockhardt denies media report on asset sale talks

MUMBAI Tue Apr 29, 2014 6:23pm IST

A person holds pharmaceutical tablets and capsules in this picture illustration taken in Ljubljana September 18, 2013.  Picture taken September 18. REUTERS/Srdjan Zivulovic/Files

A person holds pharmaceutical tablets and capsules in this picture illustration taken in Ljubljana September 18, 2013. Picture taken September 18.

Credit: Reuters/Srdjan Zivulovic/Files

Related Topics

Stocks

   

MUMBAI (Reuters) - Generic drugmaker Wockhardt Ltd denied on Tuesday a media report that said U.S. drugmakers Mylan Inc and Pfizer Inc were in talks with the company to buy some of its assets.

Wockhardt cited the media report as saying that Mylan was in talks to buy its domestic business, while Pfizer was also in the race to buy some asset, as the company planned to focus only on overseas markets.

Shares in Wockhardt, which has been hit by a rash of regulatory sanctions due to poor manufacturing quality, ended up 12.1 percent at their highest close in nine months, having risen as much as 17.3 percent during the day in a weak Mumbai market.

"Presently we do not believe that there is any information/announcement of the nature sought by you," Wockhardt said in a statement to the exchanges. "In the event that there is any development that requires disclosure, we will make the same immediately in accordance with regulatory requirements."

(Reporting by Zeba Siddiqui in Mumbai; Editing by Anand Basu)

FILED UNDER:
  • Most Popular
  • Most Shared

DEFENCE

REUTERS SHOWCASE

Power Theft

Power Theft

India to invest $4 billion to tackle power theft  Full Article 

Debt Funds

Debt Funds

India monitors foreign flows into debt funds, may tighten rules  Full Article 

Bulgari Back in India

Bulgari Back in India

CEO: we shouldn’t have left India so we’re back  Full Article 

 Hindu "Modi-fication"

Hindu "Modi-fication"

Fears grow about Hindu "Modi-fication" of education  Full Article 

Weak Credit

Weak Credit

Hard to hit tax revenue target, credit weak - Jaitley  Full Article 

China Rate Cut

China Rate Cut

China surprises with interest rate cut to spur growth  Full Article 

Gold Imports

Gold Imports

RBI cautious on response to gold import surge  Full Article 

Economic Corridor

Economic Corridor

China commits $45.6 billion for economic corridor with Pakistan  Full Article 

Overseas Funds

Overseas Funds

RBI says overseas borrowed funds can be parked with banks in India  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device  Full Coverage