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Wockhardt plans to demerge its India formulations business

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Wockhardt Ltd, one of India’s oldest drug makers, plans to demerge its India formulations business and sell a significant minority stake as a last attempt to repay its mounting debt, multiple people aware of the development said. Wockhardt's promoter Habil Khorakiwala is looking for a valuation of Rs 5,000 crore, or 4 times of the domestic formulations revenue, said the first person aware of the development.

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