Rumor Mill: Elder Pharma considers UK acquisition

Business Standard is reporting that India-based Elder Pharma is preparing to acquire a company in the U.K. According to an identified source, "Elder, which shortlisted three to four medium scale generic companies in the Europe, [is] currently in the final stages of discussions with one of them located in the U.K." The Standard said that an Elder executive confirmed that the company is looking for a European base of operations. However, in response to the article, Elder released a statement denying that it was exploring acquisition opportunities in Europe, saying that "there are no such acquisitions in consideration at present."

- read this Business Standard report