Ranbaxy Laboratories May Sell Off Biovel, Exit Vaccine Business

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Drug maker Ranbaxy Laboratories is likely to sell off Biovel, a Bangalore-based vaccine manufacturing company which it had acquired in 2010, sources said. Although Ranbaxy made the acquisition to foray into the vaccine business, it failed to roll out any product in the segment for the past two years. The company recently booked impairment losses on account of Biovel.

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