MUMBAI : US healthcare firm Viatris Inc. has put its India-focussed girls’s healthcare enterprise Famy Care Pvt. Ltd on the market as a part of its world technique to divest non-core companies, three folks accustomed to the event mentioned.
Mylan, a subsidiary of Viatris, had acquired Famy Care from the Mumbai-based Taparia household in 2015 in an all-cash deal of $800 million. The Taparia household has been approached by a number of buyout funds to finance a buyback ought to they be all in favour of working the enterprise once more, one of many folks cited above mentioned. “Different strategic buyers, together with a few of the pharma corporations betting large within the over-the-counter or OTC, feminine hygiene companies would even be all in favour of shopping for the portfolio,” the particular person added.
The potential deal dimension of the Famy Care portfolio, or the names of buyout funds within the deal or the strategic gamers couldn’t be instantly ascertained.
Viatris, Jefferies and the Taparia household didn’t instantly provide a touch upon Monday night.
Famy Care makes hormonal and feminine reproductive healthcare merchandise together with emergency contraceptives. The sale of Famy Care is a part of Viatris’ world plan to divest what it considers as non-core.
Viatris mentioned it was trying to exit a number of non-core belongings to unlock shareholder worth on 28 February. It mentioned that India-based Biocon Biologics was shopping for Viatris’ biosimilar enterprise for $3.35 billion in a money and inventory deal. The deal is anticipated to conclude quickly, Viatris mentioned in an change submitting on Monday night time.
Viatris had additionally mentioned earlier that it had recognized non-core alternatives together with the Biocon Biologics deal that would generate the corporate round $9 billion in pre-tax proceeds.
“The corporate expects to enter further transactions that can equally maximize and crystallize the worth of different belongings by the tip of 2023,” Viatris mentioned, with out naming the opposite companies that it felt had been non-core.
Individually, on 11 October, Bloomberg reported that Viatris was weighing the sale of its European shopper OTC enterprise for about $3 billion. In the meantime, Viatris has recognized ophthalmology, gastrointestinal, and dermatology as among the many key therapeutic areas it desires to concentrate on and broaden.
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