P&U Looking For Stake In Indian Drugmaker

1 September 1997

Pharmacia & Upjohn is reported to have expressed an interest in buyingthe controlling 47% stake held by the Indian Tata group in Merind Ltd. A source in the Tata group has said the company had been "unimpressed" by an initial offer from Glaxo Wellcome.

While no confirmation of the P&U position was available, the Tata source said the company had quoted a price considerably higher than the 150 rupees ($4.13) per share offered by GW. If the deal is confirmed and goes through, it will mark the first entry of P&U into the Indian pharmaceutical market.

This article is accessible to registered users, to continue reading please register for free.  A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.

Login to your account

Become a subscriber

 

£820

Or £77 per month

Subscribe Now
  • Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
  • Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
  • Daily roundup of key events in pharma and biotech.
  • Monthly in-depth briefings on Boardroom appointments and M&A news.
  • Choose from a cost-effective annual package or a flexible monthly subscription
The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed

Chairman, Sanofi Aventis UK



Companies featured in this story

More ones to watch >


Today's issue

Company Spotlight