Wockhardt Clarifies on acquisition news

With reference to an article appearing in the leading web-portal, Wockhardt Ltd clarified that it has been the Company's stated objective to pursue various acquisition proposals of companies and brands in India and abroad.

The Company has been able to demonstrate tremendous value-creation in all the acquisitions that have been done in the past, namely - Merind Ltd., Wallis Laboratories and CP Pharmaceuticals in UK, esparma GmbH in Germany, Pinewood Laboratories in Ireland and Negma Laboratories in France. Therefore, the Company's name is synonymously linked with value-creation in acquisitions.

In view of the above it is not surprising that time and again media links the Company to acquisitions. The above article is probably another one in this direction. However, as already mentioned, the Company is strategically open to acquisition opportunities both in India and abroad and in case anything materializes the Company will disclose the same at the appropriate time.

Source : Equity Bulls

Keywords