Carlyle, Blackstone mulling offer for Novartis generics business - report
Novartis AG
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07:46 20/03/24
Private equity firms Carlyle and Blackstone are reportedly in talks about potentially teaming up on a bid for the generics unit of Swiss drug maker Novartis, in what could rank as one of the biggest-ever buyout deals.
Bloomberg cited people with knowledge of the matter as saying that the PE firms have been weighing up the merits of a joint offer for the Sandoz business, which could be valued at around $25bn. Other buyout firms were also understood to be considering bids.
Novartis announced in October that it was reviewing options for Sandoz to maximise shareholder value. Sandoz makes generic drugs and has expanded in recent years to develop biosimilar copies of complex, expensive biological medicines.
Bloomberg said considerations were early stage and the buyout firms could decide against teaming up or proceeding with bids. In addition, Novartis hasn’t made a final decision on whether to spin off or sell the unit.