Financial Daily from THE HINDU group of publications
Thursday, Mar 07, 2002
Financial Daily from THE HINDU group of publications Thursday, Mar 07, 2002 |
|
|
|
|
|
Home Page
-
Restructuring Corporate - Restructuring Wockhardt sells IV fluid business to Baxter India Our Bureau
NEW DELHI, March 6 AS part of its restructuring, Wockhardt Life Sciences Ltd today announced that it has divested its intravenous (IV) fluid business to Baxter India Pvt Ltd, a subsidiary of Baxter Healthcare International Inc, US, for a consideration of Rs 195 crore. Wockhardt Life Sciences is the market leader in the IV fluids segment in the country. Mr Habil F. Khorakiwala, Chairman, Wockhardt group, said in a statement: "In the last few years, Wockhardt has been in the process of restructuring its business to focus specifically on pharmaceuticals and biotechnology. Wockhardt is fully committed to creating a globally competitive pharmaceutical business.'' Mr Carlos Del Salto, Senior Vice-President, Intercontinental/Asia, Baxter World Trade Corporation, said: "India is a strategic market for Baxter's expansion plan in Asia and this acquisition catapults Baxter into a significant position in the critical care market in India.''
Send this article to Friends by E-Mail
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | The Sportstar | Frontline | Home |
Copyright © 2002, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|