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Biotech / Medical : Munch-a-Biotech Today

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From: rkrw	4/14/2008 6:07:59 AM
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Any guesses? MUMBAI, April 14 (Reuters) - India's top biotechnology firm, Biocon Ltd (BION.BO: Quote, Profile, Research), is in talks to acquire a U.S. firm in a deal valued at $400 million to boost its overseas pharmaceutical distribution network, the Mint newspaper reported on Monday. A spokeswoman for the Bangalore-based Biocon declined to comment, the newspaper said. Biocon which makes insulin, cholestrol-lowering statins and other branded drugs bought 70 percent of German marketing firm Axicorp GmbH for 30 million euros ($47 million) in February to boost its distribution network in Europe. Shares in the firm ended up 0.5 percent at 434.75 rupees on Friday. Financial markets are closed on Monday due to a local holiday. (1 euro = $1.57) (Reporting by Saikat Chatterjee, editing by Jacqueline Wong)

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