Mundipharma International Ltd., the drugmaker owned by the billionaire Sackler family, is considering reviving a sale of its China business amid renewed interest from prospective buyers, according to people familiar with the matter.
(Bloomberg) — Mundipharma International Ltd., the drugmaker owned by the billionaire Sackler family, is considering reviving a sale of its China business amid renewed interest from prospective buyers, according to people familiar with the matter.
A fresh attempt to sell Mundipharma’s China business may kick off as soon as later this year, the people said. The company could seek a valuation of about $1 billion for the assets, the people said, asking not to be identified because the matter is private.
Investment firms and other pharmaceutical companies have shown preliminary interest in the business, the people said. No final decisions have been made and Mundipharma may still decide to retain the assets for longer, they said.
A representative for Mundipharma declined to comment.
A previous process to sell the China business stalled last year over valuation expectations, Bloomberg News reported at the time. Cambridge, UK-based Mundipharma last month agreed to sell a consumer health portfolio of brands, primarily consisting of the Betadine product franchise, to TPG Inc.-backed iNova Pharmaceuticals.
Mundipharma had sales of about $1.64 billion last year, according to a factsheet on its website. Its drugs are used in therapy areas such as anti-infectives, biosimilars, central nervous system, oncology, ophthalmology and respiratory.
The company has been reviewing strategic options on-and-off since at least 2020, Bloomberg News has reported. Mundipharma is one of the overseas entities slated for sale to help pay for claims against Sackler family members and Purdue Pharma LP over their role in the US opioid crisis.
–With assistance from Suzi Ring.
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