Indian drug makers to drop Bradley bids

Count Indian drug makers Ranbaxy and Dr. Reddy's out of the bidding for Bradley Pharmaceuticals. The two companies entered non-binding bids of around $250 million to $300 million--much lower than those submitted by U.S. firms.

Bradley began accepting bids last month, saying it would definitely pursue a buyout. The company's market cap is around $330 million.

- read the report from India's Business Standard