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 company planned to focus only on overseas markets.
Generic drugmaker Wockhardt denied on Tuesday a media report that said US drugmakers Mylan Inc and Pfizer Inc were in talks with the company to buy 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 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."
Wockhardt stock price
On April 29, 2014, Wockhardt closed at Rs 808.50, up Rs 86.70, or 12.01 percent. The 52-week high of the share was Rs 1944.85 and the 52-week low was Rs 336.60.
The company's trailing 12-month (TTM) EPS was at Rs 29.97 per share as per the quarter ended December 2013. The stock's price-to-earnings (P/E) ratio was 26.98. The latest book value of the company is Rs 74.55 per share. At current value, the price-to-book value of the company is 10.85.
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