MFC Industrial Ltd.
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Latest From MFC Industrial Ltd.
An Indian appellate tribunal has scuttled the acquisition of bankrupt Orchid Pharma by Dhanuka Labs, ruling that the deal contravened the country’s bankruptcy code.
Pfizer is ending operations at two Indian manufacturing sites, including one with a checkered regulatory history. Approximately 1,700 jobs are at stake as a result of the action, though the US multinational clarified that it is not making a widespread exit from Indian manufacturing.
Valeant attributes 14% organic growth in U.S. sales to Bausch + Lomb acquisition, disputing Allergan assertion that the deal has not borne fruit. Vertex sees evidence of sustained benefit for CF patients in Kalydeco long-term usage study. Other updates from the second quarter earnings calls, in brief.
Deal makers are cautiously viewing the fallout of a recent government statute to prevent non-compete clauses in cross-border deals for existing Indian companies except in special circumstances. Experts await clarification on the statute but some say the new norm will impede deals and affect valuations.
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