Indian generic drugmaker Wockhardt Ltd denied on Tuesday a media report that said U.S. drugmakers Mylan Inc and Pfizer Inc were in talks with the company to purchase some of its assets. Wockhardt cited the media report as saying that Mylan was in talks to buy its domestic business, while Pfizer was also in the race to buy some asset, as the Indian company planned to focus only on overseas markets.Shares in Wockhardt, which has been hit by a rash of regulatory sanctions due to poor manufacturing quality, ended up 12.1 percent at their highest close in nine months, having risen as much as 17.3 percent during the day in a weak Mumbai market."Presently we do not believe that there is any information/announcement of the nature sought by you," Wockhardt said in a statement to the exchanges. "In the event that there is any development that requires disclosure, we will make the same immediately in accordance with regulatory requirements."
Mylan Inc. (Mylan) is a fully integrated global pharmaceutical company that develops, licenses, manufactures, markets and distributes generic, branded generic and specialty pharmaceuticals. Shares of MYL remained unchanged at $50.67. In the past year, the shares have traded as low as $27.77 and as high as $57.52. On average, 6081510 shares of MYL exchange hands on a given day and today's volume is recorded at 0.
Pfizer Inc. (Pfizer) is a research-based, global biopharmaceutical company. Shares of PFE remained unchanged at $32.04. In the past year, the shares have traded as low as $27.12 and as high as $32.96. On average, 29067700 shares of PFE exchange hands on a given day and today's volume is recorded at 538445.
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