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

Satyam regulator OKs 51% stake sale plan

India's stock market regulator gave its approval for the scandal-tainted company to sell a majority 51% stake. Satyam, where India's largest corporate fraud came to light earlier this year, said the Securities & Exchange Board of India will allow the company to sell a 31% stake to an investor, selected through a global competitive bidding process, by issuing new shares. The investor can then increase the stake to 51% by making a mandatory open offer for 20% public shareholding. Satyam plans to invite expressions of interest from qualified investors, who have net assets in excess of $150 million.

Nissan, Pfizer may exit Satyam contracts

Japanese auto maker Nissan Motor Co nd U.S.-based pharmaceuticals concern Pfizer Inc are believed to be considering options to end contracts with Satyam Computer Services Ltd


TCS, Wipro Ltd and Cognizant are believed to be bidding for the $35 million Nissan contract, while Cognizant is believed to be leading the race for the Pfizer contract, ahead of TCS