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‘Stada and Angelini in running for UPSA’
Posted on Friday, 09 November 2018 12:57
Two industry peers remain in the race to acquire Bristol-Myers Squibb’s French over-the-counter drugs unit, UPSA, according to Reuters.
Citing four people with knowledge of the matter, the news provider said Stada and Angelini have been shortlisted, with the former considered the frontrunner at present, while private equity firms CVC Capital Partners and PAI Partners are also in the running.
None of the parties involved have commented on the report.
A sale of UPSA was first mooted back in July, when sources in the know told Reuters that Bristol-Myers Squibb had appointed to two banks to search for an acquiror in a deal which could be worth over EUR 1.00 billion.
Since then, a number of potential suitors have been named in connection with the transaction, including BC Partners, Reckitt Benckiser, Pfizer, Johnson & Johnson and Procter & Gamble.
Reuters’ most recent report cited sources as saying final proposals by those still in the running are expected by late November.
The people noted that Bristol-Myers Squibb is selling UPSA in order concentrate on high-margin prescription drugs.
UPSA has a history dating back to 1935 and has been owned by Bristol-Myers Squibb since 1994.
The company now operates from three locations throughout France and employs some 1,573 people.
According to its website, its products are available in 100 per cent of French pharmacies.
Zephyr, the M&A database published by Bureau van Dijk, shows that Bristol-Myers Squibb’s most recent asset sale was announced in August of last year, when it agreed to sell its Monte Villa Parkway Research Centre to Seattle Genetics for an undisclosed consideration.
Prior to that, it unveiled plans to offload its small molecule active pharmaceutical ingredient manufacturing facility to SK Biotek in June 2017.
© Zephus Ltd