- German drugmaker Knoll AG, the pharmaceutical arm of BASF, has decidedto postpone its plans to make an open offer to Indian shareholders to acquire an 11% stake in its Indian subsidiary. Sources in the subsidiary indicated that Knoll feels the current price of Knoll (India) stock would make an acquisition unviable. However, the sources said that Knoll AG would maintain its present holding in the Indian firm at 40%.
- Hoechst Marion Roussel India has posted sales of about $41 million for the first four months of the current year, a rise of 8% on the like, year-earlier period. The company is selling its manufacturing facility for the production of the antirabies vaccine Rabipur at Ankleshwar to Chiron Behring Vaccines Private Ltd for a sum to be mutually agreed. A move by the German parent group to increase its stake in HMR India to 56.1% has now reportedly been dropped.
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