US pharmaceutical company Pfizer said on Monday that it has concluded the sale of four products to Mumbai-based Piramal Enterprises Limited (earlier Piramal Healthcare Limited). The deal, valued at Rs. 110 crore, was first struck in May this year when Piramal Enterprises agreed to buy Ferradol, Neko, Sloan's and Waterbury's compound from the Indian arm of Pfizer.
"In this regard, we wish to inform you that post completion of requisite formalities and receipt of necessary regulatory approvals for the transaction, the company has concluded the transaction. Accordingly, the aforementioned products stand transferred to Piramal Enterprises," Pfizer said in a regulatory filing to the Bombay Stock Exchange (BSE).
The share price of Pfizer ended 1.66 percent down at Rs. 1,930.40, down 1.66 percent, while Piramal Enterprises lost 1.04 percent to close at Rs. 1,888.30 apiece on the Bombay Stock Exchange on Monday.
The BSE Healthcare index closed 0.49 percent lower at 16,532.15, far lower than the 1.30 percent fall the Sensex — the benchmark equity index of 30 scrips — saw on Monday in response to latest the development in the US presidential elections. Republican nominee Donald Trump and Deomcrat's Hillary Clinton will be having a face-off tonight on television.
A feeling among investors that a victory for Trump in the debate could make investors feel uncertain and consequently, volatile stock markets worldwide.