November 26, 2013

Press Release No. 1

News about Bafna Pharmaceuticals Limited

The media had reports that “US based generic drug maker Mylan and two Indian Pharma Cos are in race to accquire Bafna Pharmaceuticals Ltd"

The Exchange, in order to verify the accuracy or otherwise of the information reported in the media and to inform the market place so that the interest of the investors is safeguarded, had written to the company.

Bafna Pharmaceuticals Limited has vide its letter inter-alia stated, "We wish to clarify that the news report appearing in the section of media regarding Bafna Pharma are speculative. The Company has a policy of desisting to comment on any speculations. Yet in the larger interest of stakeholders and others concerned, we wish to inform you that the Company has been looking for raising money from various modes. In the normal course of business some negotiations are taking place which are at primitive stage."