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Shares of Cadila Healthcare Ltd (CHL) and Claris Lifesciences Ltd (CLL) are performing in contrasting styles with media reports linking the two companies in talks for possible acquisition of injectables business of Claris Lifesciences by Cadila.
While the shares of Claris spurted by more than 10 per cent in the morning trade on the BSE, the shares of Cadila have dipped marginally.
According to media reports, the two companies are in serious discussion for the acquisition of the generic sterile injectables business of Claris Lifesciences by Cadila. There is however no formal confirmation of the talks by either of the companies to the stock exchanges so far.
The report set of frenetic activity in the Claris counter this morning with the stock gaining Rs 28.90 or 10.28 per cent to go up to Rs 309.90 on the BSE. In fact, the stock touched a high of Rs 331 before losing some steam.
Cadila Healthcare shares too jumped sharply to a high of Rs 1,810 but have changed course since then and have dropped to Rs 1,751, a loss of Rs 4.20, during early trade on the exchange.
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