Monday, April 14, 2008

Biocon to buy US firm for $400 mn: Report

India's top biotechnology firm, Biocon Ltd, is in talks to acquire a US firm in a deal valued at $400 million to boost its overseas pharmaceutical distribution network.

Biocon which makes insulin, cholestrol-lowering statins and other branded drugs bought 70 percent of German marketing firm Axicorp GmbH for 30 million euros ($47 million) in February to boost its distribution network in Europe.

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