Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious Outperformance
Find Stocks Now

Blackstone, Carlyle consider joint bid for Novartis generics unit - Bloomberg News

Published 02/01/2022, 10:16 AM
Updated 02/01/2022, 10:22 AM
© Reuters. FILE PHOTO: Signage is seen outside The Blackstone Group headquarters in Manhattan, New York, U.S., November 12, 2021. REUTERS/Andrew Kelly

(Reuters) - Private equity firms Blackstone (NYSE:BX) Inc and Carlyle Group (NASDAQ:CG) Inc are in talks about potentially teaming up on a bid for Swiss drugmaker Novartis' generics unit, Bloomberg News reported on Tuesday, citing people with knowledge of the matter.

The companies have been studying the merits of a joint offer for the Sandoz business, which could be valued at around $25 billion, according to the report.

Other buyout firms are also considering bids, Bloomberg News said.

Last year, Novartis announced a strategic review of its generics unit, Sandoz, after years of revamping the business, as price pressures mount in the off-patent drug sector.

Carlyle and Novartis declined to comment, while Blackstone did not immediately respond to a Reuters request for comment.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.