Boehringer Mannheim India

The Boehringer Mannheim India (BMI) fell nearly 28 per cent following the news that it would be merged with Piramal Enterprises. The Rs 47 crore BMI is to be merged with the Rs 185 crore Nicholas Piramal India.

The major reason for the fall was that there was a rumour that the German parent Boehringer Mannheim was quitting India after selling out its Thane plant to the Piramals. However, the German major has pointed out that it has no intention of doing so.

BMI has already been in the news with its contaminated Comsat-Forte tablets. However, the Piramals have steered clear of this aspect by saying that the criminal and civil liabilities will be borne by BMI, while Piramal will look only at corporate liabilities, if any. BMI is a leader in the diagnostics business in India.