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Wyeth is divesting its interests in the oralcare business under the Forhans brand for Rs 3.60 crore. In a notice to the Bombay Stock Exchange (BSE), the company said it is seeking shareholder approval for the sale, transfer, assignment or disposal of its Forhan's brand, business and all assets pertaining to Forhan's business for a price of Rs 3.60 crore.

However, the name of the buyer could not be ascertained. Wyeth's US-based parent company holds over a 50 per cent stake in the Indian arm, and the Maheshwaris""the Indian promoters of Geoffrey Manners "" hold over a 15 per cent stake. The remaining shares are distributed among individual holders.

IPCA Laboratories has informed the BSE that the extraordinary general meeting of the company is schedule to be held on March 26, 2004, for rehabilitation scheme of amalgamation in the nature of merger of Innotech Pharma with the company (the scheme) subject to the sanction of the Board for Industrial and Financial Reconstruction (BIFR) established under the provisions of sick industrial companies (Special Provisions) Act, 1985 (SICA) and subject to such other approvals as may be required.