Pfizer considers purchase of India's Agila Specialties - report

Tue Jan 15, 2013 2:10am IST

REUTERS - Pfizer Inc is considering buying India's Agila Specialties, the injectable-medicines unit of Indian drug supplier Strides Arcolab Ltd (STAR.NS), for a possible price of $2 billion, Bloomberg reported on Monday.

Pfizer is doing due diligence and a deal could be reached this quarter, Bloomberg reported, citing unnamed sources.

A Pfizer spokeswoman said the company does not comment on market rumours or speculation.

Agila makes cancer treatments and antibiotics, Bloomberg said.

Pfizer shares were up 23 cents at $26.75 on the New York Stock Exchange. (Reporting By Caroline Humer; editing by John Wallace)

Source: http://in.reuters.com/article/2013/01/14/pfizer-agila-specialties-idINDEE90D0HF20130114?feedType=RSS&feedName=businessNews

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