India's Lupin, Cipla bid for UCB's US generic drugs portfolio - Bloomberg

Published 01-06-2015, 05:40 pm
© Reuters.

MUMBAI, June 1 (Reuters) - Indian generic drugmakers Lupin Ltd LUPN.NS and Cipla Ltd CIPL.NS are among the companies bidding for top Belgian drugmaker UCB SA's UCB.BR U.S. generic drugs business, Bloomberg reported on Monday, citing unnamed people with knowledge of the matter.

Lupin and Cipla, which rank among India's top five drugmakers by sales, submitted first-round offers in late April for UCB's Kremers Urban Pharmaceuticals Inc unit that could be valued at about $1 billion, Bloomberg said.

A UCB spokeswoman told Reuters that a sale process involving multiple parties was ongoing, and the company hopes to reach an agreement by the end of the year.

Cipla would not comment on "product or partner discussions" but it is "constantly in discussions with multiple parties on potential collaboration opportunities", a company spokeswoman said in a statement.

A Lupin spokesman did not immediately respond to a request for comment.

In November, UCB had agreed to sell the U.S. generics business to private equity groups Advent International and Avista Capital Partners for about $1.53 billion, but the deal fell through in December. ID:nL6N0SX0J0

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.
© 2007-2025 - Fusion Media Limited. All Rights Reserved.