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:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

REUTERS SHOWCASE

Earnings Season

Earnings Season

Wipro sees rosier end to year as U.S. clients spend.  Full Article 

DLF Appeals

DLF Appeals

DLF seeks interim relief from capital market ban  Full Article 

Business Climate

Business Climate

Fears for tough penalties grow as India cleans up business  Full Article 

New Email Service

New Email Service

Google launches new email service dubbed "Inbox".  Full Article 

Falling Oil Prices

Falling Oil Prices

Indian consumers respond to softer oil, food prices  Full Article 

Pollution Levels

Pollution Levels

Delhi braces for worst air quality this Diwali week.  Full Article 

Book Keeping

Book Keeping

RBI fires warning shots on companies' lack of FX hedging.  Full Article 

Policy Repo Rate

Policy Repo Rate

Most external members suggested rate cut in RBI's Sept review.  Full Article 

Reuters India Mobile

Reuters India Mobile

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