Wockhardt demerge its R&D busienss

Thebullishtrends: Wockhardt share price closed today at Rs.396(-3.46%). Wockhardt Ltd has informed that the Company has considered in principal to demerge its Research & Development business into a separate entity. The new Company will house the new drug discovery programme and the innovative new technologies being developed by the R&D team. The Company will be a listed Company and is scheduled to come into effect from January 01, 2009. Due to this demerger of its R&D Wockhardt share holders will get shares of seperate entity in this year.