Deals
Blackstone, Carlyle Mull Joint Bid for Novartis Generics Arm
- PE firms consider teaming up on bid for $25 billion business
- Novartis conducting strategic review of Sandoz to unlock value
A box of Prednisolone by Sandoz at a pharmacy in Brest, France.
Photographer: Fred Tanneau/AFP/Getty Images
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Blackstone Inc. and Carlyle Group Inc. are in talks about potentially teaming up on a bid for Swiss drugmaker Novartis AG’s generics unit, in what could rank as one of the biggest-ever buyout deals, people with knowledge of the matter said.
The private equity firms have been studying the merits of a joint offer for the Sandoz business, which could be valued at around $25 billion, according to the people. Advent International, Hellman & Friedman and KKR & Co. are separately weighing bids for the business, the people said, asking not to be identified because the information is private.