Biovel Lifesciences may be bought over by Ranbaxy for about Rs.50 cr

Biovel Lifesciences, a bio pharmaceutical start-up venture, is all set to be acquired by Ranbaxy. The final deal is yet to be inked and is expected to be over by this weekend. The value of the deal could be around Rs 50 crore, stated sources close to the development.

This is for the second time that Ranbaxy is acquiring a unit in South. The company had earlier acquired a majority stake in Genotech in 2009.

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