Sanofi's talks with Piramal "collapse," claim
French pharmaceutical major Sanofi-Aventis' attempts to buy India's fourth-largest drugmaker, Piramal, have fallen through because of differences in the valuation, according to reports in India's Economic Times newspaper.
Responding to earlier rumors of a takeover, Piramal issued a categorical denial, stating that it is not considering the sale of the company (Marketletter February 16).
Paris-based Sanofi-Aventis is diversifying away from its dependence on branded drugs and expanding into the generics sector with the almost-completed purchase of Czech drugmaker Zentiva (Marketletters passim). Both companies have declined to comment on the latest rumors.
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