Faulding a target for Alpharma?

F H Faulding, Australia's second largest biotechnology company and oneof the nation's biggest R&D contributors, appears to be the target of Alpharma, a major US generic drug producer, reports the Marketletter's local correspondent. Faulding has confirmed negotiations were continuing with an unnamed party. If it is indeed Alpharma, which has a market value of $2.5 billion, that is eyeing the firm, the merger would create a world leading generics drug producer.

Another US generics maker, Mylan Laboratories, and the medical products distributor Cardinal Health, have also been suggested as possible bidders for the Australian company.