| No hostile bid for Orchid: Ranbaxy |
| P B Jayakumar / Mumbai April 10, 2008 |
| In an interesting twist to the Solrex-Orchid saga, Ranbaxy Laboratories on Wednesday said it is against hostile takeover of any Indian pharmaceutical company. |
| Solrex Pharmaceuticals, which is believed to be an investment firm of the Ranbaxy promoters, has picked up a 12 per cent stake in Orchid Chemicals. |
| A top Ranbaxy executive told Business Standard that the company is against any hostile takeovers and refused to either confirm or deny whether Solrex is indeed owned by promoters, Malvinder and Shivinder Singh. |
| He, however, said, Ranbaxy has not gone in for any hostile takeovers so far and its investments in domestic pharmaceutical companies such as Krebs Biochemicals and Industries, Jupiter Biosciences and Zenotech Laboratories were only strategic investments. |
| Industry analysts said the Singh brothers will adopt the same model for Orchid. |
| Orchid |
