Swedish drug firm Meda AB has clarified that it is not in any discussions with Sun Pharmaceutical Industries for a $5 billion stake sale. Earlier, it was reported that Sun Pharmaceutical Industries, country’s third largest drug maker by sales, was in talks to acquire Meda AB in a deal potentially worth of about $5 billion. Further, it was also reported that letter of intent for acquisition was signed and due diligence process was soon to start and be completed within 6 months.
Sun Pharmaceuticals Industries is an international, integrated, specialty pharmaceutical company. It manufactures and markets a large basket of pharmaceutical formulations as branded generics as well as generics in India, US and several other markets across the world.
