Aug 3 Private equity firms are mulling over a
$10 billion plan to buy and merge older drug brands of Britain's
GlaxoSmithKline and France's Sanofi, the
Financial Times reported on Sunday, citing sources.
U.S.-based KKR and Warburg Pincus were among
the firms considering making bids for assets owned by GSK and
Sanofi, the newspaper quoted several people familiar with the
matter as saying. (on.ft.com/1oo8n5j)
GSK Chief Executive Andrew Witty in April said the drugmaker
was reviewing its portfolio of mature products and wanted to
dispose of off-patent drugs marketed in North America and
GSK in May invited firms to consider bidding on the
portfolio that has annual sales of around 1 billion pounds ($1.7
billion). According to an internal document seen by Reuters in
July, Sanofi held talks with listed and private equity firms in
relation to the sale of a 6.3 billion euro ($8.5 billion)
portfolio of mature drugs.
The FT quoted people close to the matter as saying that
Blackstone, Advent, Apollo and Bain Capital were among
the other private equity players to have shown interest in
either or both of the portfolios.
Reuters reported in July that private equity firms looking
at GSK products could be deterred from making bids as the
company did not plan to sell the factories need to make the
medicines as well as the sales forces required to sell them.
Officials for GSK and Warburg Pincus declined to comment,
while all the other parties concerned could not immediately be
reached for comment.
($1 = 0.5946 British Pounds)
($1 = 0.7447 Euros)
(Reporting by Esha Vaish in Bangalore; Editing by Paul Simao)