Friday, March 6, 2009

Pfizer and Sanofi eye Wockhardt's biotech unit

Pfizer Inc the world's top drug maker, and French firm Sanofi-Aventis are in the race to buy a stake in Indian Wockhardt Ltd's biotechnology business,

The biotechnology business of Wockhardt could be worth 2.5 billion rupees ($48 million) according to analysts

Wockhardt, a mid-sized drug maker, needs about $100 million to repay debt it raised through foreign bonds that expire in Septembe

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