Indian drug cos eye US’ Par Pharma
Leading Indian drug makers, including Ranbaxy Laboratories, Wockhardt and Sun Pharma, are believed to be in the fray for acquiring Par Pharmaceuticals, one of the top 10 generic pharmaceutical companies in the US.
The industry buzz is that Ranbaxy is the front-runner and may shortly sign a term-sheet agreement, which would be a precursor for due diligence. While Ranbaxy has been eyeing a buyout in the US for a long time, a big-ticket acquisition has eluded the Gurgaon-based drugmaker in that country so far. The company, however, declined comment.
