India's biggest drug maker Ranbaxy Laboratories Ltd has put in its bid to acquire generic business of German pharmaceutical firm Merck.
The Indian company that acquires Merck Generics, the multinational drug maker's generics (non-patented) business, up for sale, will be able to compete against the top global players
Ranbaxy is understood to have pulled out of the race to acquire German pharmaceutical company Merck's generic business on concerns of over-valuation.
With the bidding for the generics business of Merck set to begin from Monday, domestic pharmaceutical companies in the fray, Ranbaxy Laboratories and Dr Reddy's Laboratories, are unlikely to go for an all-out bidding war.
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