"We have a cash balance of close to Rs 1,500 crore. A majority of this balance can be used for acquisitions as our annual working capital requirement is only Rs 25-30 crore. I will not rule out a buyout of companies to expand our domestic business," said Mernosh Kapadia, senior executive director, GSK India. It is speculated that GlaxoSmithKline Plc is in talks to acquire leading Indian drug major Piramal Healthcare, in a deal valued over $1.5 billion.
Severe price cuts help multinationals ramp up growth, gain market share.
IT sector's trading multiples hit post-Lehman lows, providing good entry points.
The markets opened in green tracking its Asian peers
The Cabinet Committee on Economic Affairs has approved the proposal of GlaxoSmithKline Pte Limited, Singapore for acquisition of 24.33 per cent shares in existing Indian subsidiary company of GSK Group.
For the first time since 2001, promoter stake in BSE 500 decisively below 50%
The Singapore subsidiary of the UK-based GlaxoSmithKline plans to buy 24.33 per cent stake or 2.06 crore equity shares in GlaxoSmithKline Pharmaceuticals Ltd through an open offer.
On Tuesday, Novartis agreed to buy GSK's oncology products business for $14.5 billion, while selling its vaccines business, excluding flu, to GSK for $7.1 billion.
A large number of American companies like Google, Uber and IBM are offering their resources to help India successfully fight the battle against the deadly coronavirus pandemic.
Some investment bankers expect the Indian currency to touch 60-65 by the end of the year
The NPPA letter was issued to GSK on Wednesday.
Experts say despite it being a global deal, the transaction will have to undergo CCI scrutiny because of the scale of operations.
A probe finds several pharma majors in breach of the law; and in turn they blame the government.
Sensex rises, Nifty holds 8,900; FMCG, Pharma shares lead.
Dilip Shanghvi founded Sun Pharma in 1983.
Some big ones hoard cash unduly and others borrow to keep up payments to shareholders
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances