At least two Indian companies, Jubilant Organosys and Hikal Pharma, have dropped out of the race to acquire Pfizer's Ireland unit. However, other companies such as Nicholas Piramal and Dr Reddy's Laboratories (DRL) could still be in the fray.
Pfizer's European unit is a manufacturing centre for the US-based global major, which it decided to sell earlier this year. A group of Indian companies, mostly those focussed on contract manufacturing, are in the race to buy the asset, estimated to be between $60 and $100 million.
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