Novartis AG is planning to kick off an auction process for its U.S. generic pill business, Reuters reported citing anonymous sources.

The move could pave the way for a potential $1.6 billion sale of the unit, which has been struggling due to competition in pricing, the news outlet reported.

The Switzerland-based company will start a sale process for the business in the coming weeks and might attract other bidders, including pharmaceutical companies or private equity firms.