Frankfurt (IFN) German generic drugs company Stada Arzneimittel is not interested in acquiring Croatian drug maker Pliva, a source close to Stada said on Wednesday.
"Speculation that Stada is showing interest in Pliva is false," the source said.
German news letter "Platow Brief" reported Tuesday that Stada would be interested in acquiring its Croatian competitor.
Icelandic generic drug company Actavis has tabled an increased USD1.85 billion indicative offer to acquire Pliva, up from USD1,6 billion, but Pliva has rejected the offer as being too low, and the firm as decided to put itself up for sale.
Pliva's chief executive Zeljko Covic told the Financial Times last week that a number of potential bidders had emerged, following Actavis' approach.
Pliva reported sales of USD1.2 billion in 2005 and a net loss of USD75 million.
Sources: Dow Jones Newswires; Platow Brief
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