India's Lupin, Torrent among bidders for 47.5 pct of Poland's Jelfa

Lupin Laboratories Ltd and Torrent Pharmaceuticals have put in separate bids for the Polish government's 47.5 pct stake in drug major Jelfa Pharmaceutical, Business Standard reported.

The two Indian companies are among six bidders eyeing the Polish government's stake in Jelfa, it said, adding that the bidding process is expected to be completed next month.

Jelfa is one of the largest pharmaceutical firms in Poland and manufactures hormonal and cardiological drugs and multivitamin preparations.

Kamal Sharma, Lupin managing director, confirmed the company's bid for Jelfa.

'We have submitted our expression of interest for the bid. Lupin is open to inorganic growths via acquisitions,' Sharma told Business Standard.

Latvian drug producers Grindex and Sanitas, and Polfa Kutno, a Poland-based drug manufacturer, are among the other bidders for Jelfa, the report said.

(Source: AFX News Limited)

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