PolyPeptide Is Said to Shortlist EQT, IDG for Next Bidding Round

PolyPeptide Group AG has shortlisted private equity firms EQT AB and IDG Capital in the next round of bidding for the Swiss contract drugmaker, according to people familiar with the matter.

Altaris LLC has also been pursuing PolyPeptide, the people said, asking not to be identified discussing private information. The company has a market value of about $1.6 billion after a recent rally, but it is still off highs of about four years ago.