Deals
Wockhardt in Talks to Sell India Drugs Business, ET Now Reports
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Wockhardt Ltd., an Indian drugmaker banned from selling some medicines to the U.S. from two factories last year, is in talks to sell its domestic business to focus on international operations, ET Now television channel reported citing people it didn’t identify. Shares climbed.
The drugmaker is in talks to sell the India business, the TV channel reported. The company expects to get more than $1 billion for the asset, according to the report. Sagar Joshi, a spokesman at Mumbai-based Wockhardt, didn’t immediately respond to two calls to his mobile phone.