Merind : Will the wheel turn full circle?

5 Sep

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The French have an adage – ‘plus ca change, plus c’est la meme chose.’  The more things change, the more they remain the same.  I can’t help wondering whether that is going to happen to Wockhardt’s pharma division Merind. This was the vehicle through which US-based Merck & Co., used to operate in India till the eighties. For a while it was a joint venture with the Tata group then in the early to mid-nineties Merck decided to get out. Then in 1998,  Tata exited in favour of Wockhardt. Now Merind is back on the block. In the meantime, Merck has made a comeback with a wholly-owned subsidiary MSD Pharmaceuticals in 2005. Currently it lacks critical mass and acquisitions are one way it can get there. Wouldn’t it be delicious irony if MSD bid and got Merind.  Don’t know if that will happen though. MSD already has its hands full with Fulford India (pun unintended), the subsidiary of Schering Plough that is globally being acquired by Merck. Yet, you never know.

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