India's Piramal Healthcare Ltd. (500302.BY) is in talks to buy U.S.-based contract drug maker Cambridge Major Laboratories for around $200 million, the Financial Express newspaper reported Saturday citing a person with direct knowledge of the matter.
"Early stage negotiations are on and it will take a while to conclude the deal," the person was quoted as saying.
Piramal Healthcare declined to comment to the newspaper, while an email sent to Cambridge Major Laboratories was unanswered.
The Indian drug maker is the flagship company of the Ajay Piramal-owned Piramal Group, while unlisted Cambridge Major Laboratories makes pharmaceutical intermediates and active pharmaceutical ingredients that are used in drugs.
Cambridge owns three facilities in the U.S. and one in Europe, the report said.
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(END) Dow Jones Newswires
June 16, 2012 09:17 ET (13:17 GMT)
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