Sun Pharmaceutical in talks to buy Sweden’s Meda AB for $5-6 bn

A spokeswoman for Sun Pharma,which has a market value of roughly $20 bn,declined to comment.

Sun Pharmaceutical Industries is in talks to buy a controlling stake in Swedish drugmaker Meda AB for between $5 billion and $6 billion to boost its generics business in developed markets,two sources with direct knowledge of the matter said.

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Meda makes specialty products,over the counter drugs and branded generics – the same areas of focus as Sun Pharma.

Mumbai-based Sun Pharma is India’s most valuable drugmaker and has made a series of acquisitions in the past.

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It is in talks with a clutch of banks to raise funds for a possible deal,the sources said,declining to be identified because the talks are not public.

A spokeswoman for Sun Pharma,which has a market value of roughly $20 billion,declined to comment. Meda AB was not immediately available for comment.

Algerian-French artist’s work vandalised at Kochi art gallery over ‘obscenity’ allegations

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Algerian-French artist Hanan Benammar's linocut prints were vandalised by two artists at an international exhibition in Kochi. The exhibition, curated by Anushka Rajendran and Damian Christinger, was organised by the Kerala Lalithakala Akademi and opened on October 18.

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