GlaxoSmithKline PLC and Sanofi Aventis SA have emerged as bidders for Indian drug company Piramal Healthcare Ltd, with the sale price perhaps going as high as $1.5 billion.
A deal for Piramal Healthcare could further Glaxo's strategy to build its presence in emerging markets.
Analysts have predicted Sanofi will target medium-sized companies to boost its growth after recent moves by Sanofi to acquire vaccines maker Acambis and Czech generic drug group Zentiva
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