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Indian arm to come under medical biz

Indian arm to come under medical biz
PTI
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First Published: Wed, Oct 19 2011. 10 21 PM IST

File Photo Bloomberg
File Photo Bloomberg
Updated: Wed, Oct 19 2011. 10 21 PM IST
New Delhi: Abbott Laboratories said on Wednesday its Indian division will come under the diversified medical products division after the company’s proposed split.
File Photo Bloomberg
The US-based firm has proposed to separate itself into two publicly traded companies—one in diversified medical products and the other in research-based pharmaceuticals.
In May 2010, Abbott acquired the domestic formulation business of India’s Piramal Healthcare for $3.72 billion (about Rs 17,484 crore) to become one of the leading drug firms in the country.
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First Published: Wed, Oct 19 2011. 10 21 PM IST