Pharma-major Wockhardt Limited on Thursday announced the acquisition of a German pharmaceutical firm -- esparma, GmbH -- for $11 million [Rs 49 crore (Rs 490 million)].
Many, including DLF, Suzlon, UB, the Tata and the Aditya Birla Group are selling stake or assets to reduce debt and the strain on their balance sheets. That's because they have been hit either by slowing sales, or have a big exposure to markets in the West where demand has contracted sharply as a result of the economic downturn.
Wockhardt Ltd said on Wednesday it has completed acquisition of France-based Negma Laboratories for $265 million.
Wockhardt Hospitals will expand to 10 to 15 hospitals over the next few years
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