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India s top pharma majors in talks to buy Pharmarack
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Stocks to watch: Kalyan Jewellers, Suryoday SFB, Hathway Cable, CG Power
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Synopsis
Another mid-sized pharma firm, La Renon, backed by Sequoia Capital and A91 Partners is also keen on buying out Oaknet. Binding bids will be submitted by this month and the deal is likely to be signed by May 2021, sources said.
A clutch of Indian pharmaceutical majors such as
Sun Pharmaceutical, Dr Reddy s Labs (DRL), KKR-owned JB Chemicals & Pharmaceuticals, Torrent Pharma and Piramal Pharma have shown interest in acquiring Oaknet Healthcare, the Mumbai-based drug formulation manufacturer owned by private equity fund Samara Capital.
Investment bank Rothschild is advising the fund to find a potential buyer for the business at a valuation of $100 million (about Rs 700 crore), said multiple people aware of the development.
market outlook: Ahead of Market: 12 things that will decide stock action on Friday
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China, Russia & North Korea hackers target AIIMS, SII, Patanjali for Covid data â report
Report by cyber intelligence firm Cyfirma says threats to global healthcare firms were noticed in February, hackers targeted those investing in medical research, clinical trials, vaccine production.
Himani Chandna 2 March, 2021 8:00 am IST
A+
New Delhi: A group of Chinese, Russian and North Korean hackers have targeted crucial information of Indiaâs top drug and vaccine makers including Serum Institute of India (SII), Bharat Biotech, Zydus Cadila and AIIMS, cyber intelligence firm Cyfirma has found.
Bharat Biotech and SII have developed vaccines against Covid-19 in India, which were approved for emergency use authorisation in the country in January, and Zydus Cadila is involved in the last stage trial of its Covid vaccine. The All India Institute of Medical Sciences (AIIMS) is the countryâs apex public hospital and research institute.