B-MS interested in German Remedies?
Bristol-Myers Squibb is reportedly interested in making a bid to acquirethe Degussa-Huels group's 27.72% stake in the Indian drugmaker German Remedies, according to the country's Economic Times. Two Degussa companies, Asta Medica and Heller, each have a 13.86% interest in German Remedies.
B-MS now joins fellow US firm Pharmacia on the shortlist of four companies that Degussa will finally choose from. The other two groups that are thought to be interested in buying the stake are India's Nicholas Piramal and Ranbaxy, which recently confirmed that it has made a bid (Marketletter March 19).
Looking to create presence in India
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