Narayana Hrudayalaya confirmed that the company is in discussions to acquire Panacea Biotec, and signed a non-binding MOU with the company in December last year. Narayana Hrudaylaya has said that due diligence is currently in progress with the firm to buy the Gurgaon hospital.
Panacea Biotec's stock had risen sharply in Jan this year, on new drug approvals by the US FDA.