LONDON (Alliance News) - Hikma Pharmaceuticals PLC is among bidders for Boehringer Ingelheim GmbH's Roxane Labs business in the US, Bloomberg reported citing people familiar with the matter.
The report said that other potential buyers for the generic pharmaceutical unit, which may fetch as much as 2 billion euros or USD2.2 billion, include Mallinckrodt PLC (MNK) and Perrigo Co. (PRGO). A decision on the winner could be made within weeks, though the German drugmaker may still choose to keep the asset.
Boehringer Ingelheim said in January that it's exploring strategic options for Roxane Labs. The unit comprises Roxane Laboratories Inc., and its manufacturing and supply-chain affiliate, Boehringer Ingelheim Roxane Inc.
Options include asset swaps or a sale. While the drugmaker would prefer an asset swap, such a transaction may be more difficult to carry out than a straight sale, the report said.
Copyright RTT News/dpa-AFX, source Alliance News