Actavis, Torrent seen top Merck unit bidders: paper
MUMBAI (Reuters) - India's Torrent Pharmaceuticals Ltd. (TORP.BO) and Iceland's Actavis ACT.IC are among the top contenders for Merck KGaA's (MRCG.DE) generics business, which could be sold for more than $6 billion, the Times of India reported on Tuesday.
Citing sources familiar with the situation, the Indian daily said that Israel's Teva Pharmaceutical Industries Ltd. (TEVA.O) could find the unit too costly as it already has a strong presence in markets where Merck operates.
Ahmedabad-based Torrent, valued at $400 million, had tied up with private equity firms U.S.-based Fortress Capital and UK-based Greater Pacific Capital, the paper said.
Merck has said it may sell its generics business, which had sales of 1.8 billion euros last year, to focus on high-margin branded pharmaceuticals and chemicals, and help cut debt from its recent $13.3 billion Serono acquisition.
Other bidders that have been reported to be in the running included U.S.-based Mylan Laboratories Inc MYL.N, a private equity consortium of Bain Capital and Apax Partners APAX.UL, and a group involving CVC Capital Partners CVC.UL and India's Aurobindo Pharma Ltd (ARBN.BO).
