Smiths, Fresenius Said to Bid for Pfizer's $2 Billion Pumpsby and
Buyout firm Pamplona also said to have made an offer
Final bids for business said to be due at end of May
Smiths Group Plc and Fresenius SE are among bidders for Pfizer Inc.’s pumps and devices business, which it acquired in last year’s purchase of Hospira Inc., according to people familiar with the matter.
Private equity firm Pamplona Capital Management also made a second-round bid for the unit, according to the people, who asked not to be identified as the matter is private. Final bids are due around the end of May and the U.S. drugmaker could fetch about $2 billion from a sale, the people said. No final decision has been made, and any deal could still fall apart, the people said.
Representatives for Bad Homburg, Germany-based Fresenius, London-based Smiths Group, and Pfizer declined to comment. A spokesman for Pamplona didn’t immediately respond to e-mail requests seeking comment.
New York-based Pfizer bought Hospira, which makes generic injectable drugs and devices to deliver them, for about $17 billion last year. The deal bolstered Pfizer’s portfolio of established drugs, including off-patent medicines with slow growth and strong cash flow. Pfizer earlier this month terminated its $160 billion merger with Allergan Plc, ending the largest-ever pharmaceutical acquisition after officials in Washington cracked down on corporate inversions.
Smiths shares fell 6 pence, reversing earlier gains, to 1,131 pence at 12:14 p.m. in London. Fresenius dropped 1.9 percent to 64.13 euros.