The rumors were that Sanofi ($SNY), Novartis ($NVS) and GlaxoSmithKline ($GSK) were all taking a close look at India's Elder Pharmaceuticals as a way to beef up emerging market sales. But The Economic Times now says Elder is deep into discussions with Indian drugmaker Torrent Pharma, which is talking about 1,700 crore ($291 million) for its peer. Torrent has cash on hand, while Elder is debt-heavy. Sources tell the publication that it is most interested in Elder's women's health group. Story | More