Wockhardt in focus on German unit sale

MUMBAI: Shares of pharmaceutical firm Wockhardt were on the rise after it announced that it has sold its German business Esparma to Mova Gmbh, a unit of Germany's Lindopharm Gmbh, as part of a restructuring process.

Wockhardt had acquired Esparma in May 2004. Wockhardt, which is in the process of rationalizing operations, is looking to divest some of its smaller operations and non-core businesses and raise fresh capital, the company said.

At 10:20 am, the company���s shares were up 2.65 per cent at Rs 133.60 on the BSE.