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April 3, 2001 		Feedback  
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Pharmacia, Bristol-Myers bid for German Remedies

Four companies, including US drug makers Bristol-Myers Squibb and Pharmacia Corp, have bid for a 27.4 per cent stake in India's German Remedies, sources close to the bidding said on Monday.

The identities of the third and fourth bidders are not known.

The sources said Mehta Partners, the merchant bankers advising the sellers, Asta Medica and Heller AG, would list three of the bids for consideration. The fourth would be considered if any of the other bidders pulled out.

Bids closed at 12 noon New York time on Friday. Mehta Partners is headquartered in New York.

German firms Asta and Heller are each selling 13.7 per cent stakes in German Remedies, which is best known for its anti-asthma and gynaecological range of products. Two other German firms, Boehringer Ingelheim and Schering, also each own 4.6 per cent stakes.

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