Viatris a takeover target for Indian firms?
Indian drugmakers Ranbaxy and Wockhardt are reportedly interested in acquiring the German pharmaceutical company Viatris. Offers at around $500.0 million are said to be in the pipeline. If this is confirmed, it would make this the largest single Indian company acquisition abroad, significantly surpassing the $229.7 million bid made by Malladi for US firm Novus Fine Chemicals (Marketletter July 4).
Viatris, which is based in Bad Homburg, was formerly a Degussa group company but was sold in 2002 to Advent International of the USA for 375.0 million euros ($452.9 million). Last year, Viatris posted turnover of 323.0 million euros.
A spokesman for Ranbaxy declined to comment on the reports, adding that it was open for acquisitions in Germany but did not respond to rumors, and Wockhardt has taken a similar line.
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