Sanofi's generic drugs unit Zentiva is attracting interest from Indian drugmaker Torrent Pharmaceuticals Ltd. and Brazil-based EMS, Reuters reported Feb. 5, citing sources familiar with the matter.
Zentiva has operations in 50 markets, with a large presence in Czech Republic, Slovakia and Romania, and is being valued at up to $2.4 billion, according to the news outlet.
Both Torrent and EMS have submitted indicative bids for an acquisition in January, the news outlet reported.
Reuters reported, citing one of the sources, that the French drugmaker plans to finalize a buyer by the end of the first quarter.
A syndicate of buyers comprising Blackstone Group LP and Nordic Capital are also strong contenders for a Zentiva takeover, along with three other private equity funds, including Carlyle Group LP, BC Partners and Advent, the news outlet added, citing the sources.
Sanofi, EMS, Torrent Pharma and all the private equity funds declined to comment on the issue to Reuters.
In January 2017, Sanofi indicated that it hoped to complete the sale of the European generics business by year-end 2018.
