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After Indian pharmaceutical companies who failed to acquire US-based pharmaceutical companies Ivax and Alpharma and the German Viatris , Indian majors Ranbaxy and Wockhardt are now looking at Germanys fourth largest generic firm, betapharm Arzneimittel GmbH. Sources close to the development said that Nicholas Piramal Idia(NIPL) is also in the race to acquire the German drug maker. The UK -based 3iGroup PLC, which controls the majority holding in betapharm, is planning to sell the company. The 3iGroup has appointed investment banks Sal Oppenheim and Bear Stearns to advise on the sale. 3ihad bought betapharm for about e300m last year. According to sources, Tuesday was the last date for the non-binding bids. Ranbaxy, Wockhardt, and NPIL are understood to have submitted their bids. Market sources said that global majors like Teva, Sandoz, and some Turkish companies, along with private equity players, are also bidding for the German firm. |
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| Posted : 11/14/2005 |
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