Sun Pharmaceutical Industries, Ranbaxy Laboratories, Lupin Ltd and Wockhardt Ltd were named as potential bidders by the Times of India and the Economic Times who are in the race to acquire US-based generic drug maker, Par Pharmaceutical Co Inc.
The Times of India, citing unidentified sources, said Ranbaxy and Dr Reddy's Laboratories had withdrawn from the race after showing initial interest in the US generics firm, which is valued at about $700 million.The Economic Times said Ranbaxy may be the front runner.
The spokeswoman for Dr Reddy's said the company was never interested in Par Pharma, while the spokesman for Ranbaxy declined comment.Lupin, Wockhardt and Sun Pharma also declined comment.
Ranbaxy, India's top drug maker by sales, said last month that the United States was one of the regions where it was seeking an acquisition.
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