March 3, 2020 / 3:13 PM / in a month

NMC Health founder Shetty mulls sale of UAE-based pharma business - sources

March 3 (Reuters) - NMC Health founder BR Shetty is weighing a potential sale of his Abu Dhabi-based pharmaceutical business, which is valued at about $1 billion, two sources said on Tuesday.

BRS Ventures has seen preliminary expression of interest for the business, Neopharma, from potential buyers that also include international investors and companies, one of the sources familiar with the plan told Reuters.

The talks could lead to a partial or a full sale, the sources said.

BRS Ventures declined to comment. Bloomberg reported here the news earlier, saying the pharma company could be valued between $700 million and $1 billion.

Neopharma, founded in 2003, has 10 manufacturing facilities spread across three continents, it says on its website.

Reporting by Saeed Azhar; additional reporting by Yadarisa Shabong in Bengaluru; Editing by Shinjini Ganguli

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