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Business News/ Opinion / Online-views/  Piramal shares rise on Glaxo, Sanofi buy reports
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Piramal shares rise on Glaxo, Sanofi buy reports

Piramal shares rise on Glaxo, Sanofi buy reports

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Mumbai: On reports that GlaxoSmithKline Plc and Sanofi Aventis SA had emerged as bidders for the Indian pharmaceutical firm Piramal Healthcare Ltd, its shares surged up by almost a fourth.

However, Piramal said reports of a potential sale of the company were “unfounded."

The shares opened up 3.4% and rapidly rode up to Rs242, up 24.5%.

At 10:04am, Piramal shares were trading at Rs232, up 19.3%.

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Published: 09 Feb 2009, 12:00 PM IST
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