No plans to exit from Biocon: Kiran Mazumdar Shaw
Biotech major Biocon Chairman and Managing Director Kiran Mazumdar has ruled out selling off the company in her lifetime.
By PTI |
NEW DELHI: Promoters of India's leading drug firm Ranbaxy may consider consolidation as the name of the game in the pharmaceutical sector, but biotech major Biocon Chairman and Managing Director Kiran Mazumdar has ruled out selling off the company in her lifetime.
"As a first generation entrepreneur, the emotional attachment to the company is very strong and I think in my lifetime I would like to grow this company myself," Biocon CMD Kiran Mazumdar Shaw told Sahara Samay Netowrk in an interview.
Her statement comes in the wake of Ranbaxy promoters selling off their entire stake for Rs 10,000 crore.
"I think usually when you look at merger and acquisition, it is the next generation who are not so emotionally tied to the company that they look at it more pragmatically, a business kind of proposal," she said.
Speaking about the recent trend in the sector she said, "There are lot of things happening in this particular area of mergers and acquisitions (M&A) and there are companies which have basically felt that may be in order to grow, may be an M&A approach is a much safer and better way of doing that."
She, however, said there were huge challenges and uncertainties, associated with risks ahead.
"The whole sector is in the state of flux where you know people are risk averse, people want to find very instant solutions to these kinds of challenges," she added.
"As a first generation entrepreneur, the emotional attachment to the company is very strong and I think in my lifetime I would like to grow this company myself," Biocon CMD Kiran Mazumdar Shaw told Sahara Samay Netowrk in an interview.
Her statement comes in the wake of Ranbaxy promoters selling off their entire stake for Rs 10,000 crore.
"I think usually when you look at merger and acquisition, it is the next generation who are not so emotionally tied to the company that they look at it more pragmatically, a business kind of proposal," she said.
Speaking about the recent trend in the sector she said, "There are lot of things happening in this particular area of mergers and acquisitions (M&A) and there are companies which have basically felt that may be in order to grow, may be an M&A approach is a much safer and better way of doing that."
She, however, said there were huge challenges and uncertainties, associated with risks ahead.
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"The whole sector is in the state of flux where you know people are risk averse, people want to find very instant solutions to these kinds of challenges," she added.
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