Indian generic drugmaker Claris Lifesciences Ltd said on Thursday it was not in talks to sell its stake in injectable drugs business, and has not considered such an action.
The company issued the statement in response to a newspaper report that said several large pharmaceutical companies were in a race to buy Claris's sterile injectables business.
Claris said it had "neither considered nor taken any decision in this regard."
The company's shares rose as much as 20 per cent to Rs 248.20 rupees on Thursday, while the broader NSE index was up 0.64 per cent.