Dr Reddy's vs Torrent? Race to Cipla acquisition heats up

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Pharmaceutical giant Cipla is reportedly exploring a stake sale, and new contenders are cropping up in an intense competition. International private equity firm Blackstone has expressed interest, as has India's own Torrent Pharma, and the newest in the race is Dr Reddy's Laboratories, in a joint bid with Bain Capital. Who will take the pie, and what factors come in to play? Pharma analyst Purvi Shah, deputy vice president at Kotak Securities, lays down the nitty-gritties