Takeda puts Latam business on the block; CVC Partners sells Doc Generici

By PharmaCompass

2019-04-11

Impressions: 149 Article

After buying Irish drugmaker Shire Plc for US$ 62 billion last year, Japanese drug major Takeda Pharmaceutical Company Limited has been busy looking to sell assets in order to reduce its overall debt burden. As a step in that direction, Takeda has invited Brazilian pharmaceutical companies to bid for its Latin American business.

The potential buyers include Ache Laboratorios Farmaceuticos, EMS Pharma, Biolab Farmaceutica and Eurofarma Laboratorios, as well as investment shop Advent International, a Reuters news report said. The investment banking unit of Bank of America Corp is managing the sale.

Takeda expects to get about US$ 1 billion for its Brazilian business since it has a strong presence in Brazilian and Mexican markets, while Takeda’s overall OTC drugs accounts for 30 percent of its entire business.

EMS Pharmaceuticals, the largest Brazilian pharmaceutical company, is being seen as the topmost candidate for the OTC buy, Brazilian daily Valor International said. EMS would be interested in both the domestic as well as OTC portfolio, it added.

Meanwhile, British private equity firm CVC Partners is selling Italian generic drugmaker, Doc Generici, to investment firms Intermediate Capital Group (ICG) and Mérieux Equity Partners for an undisclosed amount. According to a report published in Bloomberg, Doc Generici may have been valued at US$ 1.2 billion (€1.1 billion).

CVC bought Milan-based Doc Generici in 2016. The company holds a wide portfolio of generic drugs used to treat cardiovascular, gastrointestinal and metabolic diseases. Benoît Durteste, CEO and chief investment officer of ICG, said the deal represents a big milestone for ICG in Italy.

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