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Dabur Pharma founders sell majority stake to Fresenius

Dabur Pharma founders sell majority stake to Fresenius

Reuters

Mumbai: Indian drug maker Dabur Pharma Ltd announced on 19 April that its founders and other shareholders have agreed to sell 73.27% in the company to Fresenius Kabi (Singapore) Pte Ltd, at Rs76.50 a share.

The Singapore firm is a unit of European healthcare firm Fresenius SE.

The Indian firm, which makes anti-cancer drugs, had earlier this year denied talks with a German drug maker for a partnership or sale. The deal with Fresenius values it about 10% higher from its market capitalization of $273 million.

Last year, the company had sold its non-oncology drugs business to local rival Alembic to focus on cancer treatment drugs.

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