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Piramal Health denies stake sale plan, shares down 8%

Earlier in the day, shares of Piramal Healthcare had risen more than 6% on market expectations that the company was in talks to sell the firm to a global pharma major.

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Piramal Health denies stake sale plan, shares down 8%
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Piramal Heathcare Ltd said on Wednesday its founder has no proposal to sell any stake in the company, sending the shares down 8%.

Earlier in the day, shares of Piramal Healthcare had risen more than 6% on market expectations that the company was in talks to sell the firm to a global pharma major.

French drugmaker Sanofi-Aventis and Pfizer were in negotiations to acquire Piramal Healthcare, local television channels reported on Wednesday.

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