NMC founder BR Shetty weighs sale of Abu Dhabi-based pharma biz

Photo: Unsplash

NMC Health Plc founder Bavaguthu Raghuram Shetty is considering selling his Abu Dhabi-based pharmaceuticals business, Neopharma, after drawing interest from potential investors, according to people with knowledge of the matter.

Shetty, who resigned as chairman of the troubled hospital operator last month, has been approached by parties, including regional investors and family offices, the people said, asking not to be identified because the matter is private. Neopharma could be valued at between $700 million and $1 billion, they said.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter