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news.Wockhardt, an India-based global pharmaceuticals and biotechnology major, is set to merge the nutrition business of Vinton Healthcare, its wholly-owned subsidiary, with itself.
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Vinton Healthcare owned a manufacturing unit and also partly owned Wockhardt‘s nutrition business along with two other subsidiaries – Wockhardt EU Operations (Swiss) and Carol Info Service, which is promoted by chairman Habil Khorakiwala, Bloomberg.com reported.
Wockhardt’s 2009-10 annual report suggested that Vinton Healthcare made a loss of INR5.4m during 2009-10 and also had liabilities worth INR1.09bn.
Earlier, Wockhardt had decided to sell Vinton Healthcare to Abbott for INR6.3bn, but the deal was jointly aborted.