Spain's Zeltia Denies Receiving Bid For Drug Unit

Spanish biotechnology and chemicals company Zeltia strongly denied rumours of a takeover bid by a multinational company for its PharmaMar pharmaceuticals unit that sent its shares up more than 5 percent on Friday. "Normally we do not deny rumours but in this case we roundly deny that any offer has been presented for this Zeltia unit," a company spokesman said in Madrid. The company repeated the denial in a filing with Spain's National Securities Market Commission (CNMV).