Indian pharma firms Cipla, Glenmark in race for hived-off Teva-Allergan generics in US

India-based Glenmark Pharmaceuticals Ltd, Cipla Ltd and Sun Pharmaceutical Industries Ltd are planning bids for Teva Pharmaceutical Industries Ltd‘s US generic products, which are expected to go for around $500-800 million.

These three companies are among some 30 companies, which are bidding for the Israel-based Teva’s portfolio. The second bid of around 35 products including oral solids, capsules, soft gels and hormones, is expected to happen next week, according to a Bloomberg article that first reported the development.

The first round of formal bidding saw interest from as many as 65 generic companies.

Teva needs to sell a range of overlapping generic drugs in order to gain antitrust approval for its $40.5 billion purchase of Allergan Plc’s generics business, the report said.

Last year in August, Teva sealed a $40.5 billion deal to buy generics business of Allergan Inc, an Irish firm.

In April this year, generic drugmaker Mylan rejected the proposed takeover deal.

Greenhill & Co advising Teva for the proposed sale.

Teva Pharmaceutical Industries, the world’s largest generic medicines producer, provides patient-centric healthcare solutions. The firm has more than 1,000 molecules to produce a wide range of generic products in nearly every therapeutic area.

Also Read:

PE firm ChrysCapital exits India’s Mankind Pharma making 13x returns: Report

India: JB Chemicals to buy 51% stake in Biotech Labs from Afrika Biopharma

India: Pharma firm Alkem Labs to launch $210m IPO in December

India: Sun Pharma completes acquisition of US-based eye care company InSite Vision

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.