Sanofi, Carlyle in talks to buy Elder Pharma’s India formulations business

The deal, worth about $400-450 million, could be signed as early as next month, said sources

Reuters
Published24 Jul 2013, 07:24 PM IST
The acquisition would help Sanofi India Ltd, the local unit of France&#8217;s Sanofi, expand its foothold in the Indian generic market, which accounts for more than 90% of drug sales of the $13 billion domestic drugs industry.<br />
The acquisition would help Sanofi India Ltd, the local unit of France&#8217;s Sanofi, expand its foothold in the Indian generic market, which accounts for more than 90% of drug sales of the $13 billion domestic drugs industry.(The acquisition would help Sanofi India Ltd, the local unit of France&#8217;s Sanofi, expand its foothold in the Indian generic market, which accounts for more than 90% of drug sales of the $13 billion domestic drugs industry.)

Sanofi SA’s India unit and Carlyle group are in separate talks to buy the domestic drug formulations business of India’s Elder Pharmaceuticals Ltd for $400-450 million, three sources with direct knowledge of the matter said.

add_main_imageA deal could be signed as early as next month, one of the sources told Reuters. All the sources declined to be named as they were not authorized to speak to the media.

The acquisition would help Sanofi India Ltd, the local unit of France’s Sanofi, expand its foothold in the Indian generic market, which accounts for more than 90% of drug sales of the $13 billion domestic drugs industry.NextMAds

Sanofi India and Carlyle declined to comment, while Elder Pharmaceuticals did not immediately respond to a Reuters request for comment.

Elder Pharma said on 11 July its board had approved restructuring of the company business by either raising capital, hiving off assets or through other strategic options to reduce debt.

Catch all the Corporate news and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.

MoreLess
First Published:24 Jul 2013, 07:24 PM IST
Business NewsCompaniesNewsSanofi, Carlyle in talks to buy Elder Pharma&#8217;s India formulations business

Get Instant Loan up to ₹10 Lakh!

  • Employment Type

    Most Active Stocks

    Tata Steel share price

    152.30
    03:58 PM | 5 NOV 2024
    5.35 (3.64%)

    Bharat Electronics share price

    286.15
    03:59 PM | 5 NOV 2024
    2.1 (0.74%)

    Bank Of Baroda share price

    257.80
    03:59 PM | 5 NOV 2024
    5.05 (2%)

    State Bank Of India share price

    849.20
    03:59 PM | 5 NOV 2024
    19.35 (2.33%)
    More Active Stocks

    Market Snapshot

    • Top Gainers
    • Top Losers
    • 52 Week High

    Deepak Fertilisers & Petrochemicals Corporation share price

    1,320.80
    03:53 PM | 5 NOV 2024
    44.1 (3.45%)

    National Aluminium Company share price

    235.00
    03:56 PM | 5 NOV 2024
    4.2 (1.82%)

    Gillette India share price

    10,519.05
    03:29 PM | 5 NOV 2024
    116.1 (1.12%)

    Suven Pharmaceuticals share price

    1,332.50
    03:29 PM | 5 NOV 2024
    12.85 (0.97%)
    More from 52 Week High

    Rainbow Childrens Medicare share price

    1,548.10
    03:58 PM | 5 NOV 2024
    -82.6 (-5.07%)

    Torrent Power share price

    1,708.00
    03:29 PM | 5 NOV 2024
    -88.75 (-4.94%)

    PB Fintech share price

    1,640.20
    03:57 PM | 5 NOV 2024
    -72.55 (-4.24%)

    Tube Investments Of India share price

    4,180.70
    03:58 PM | 5 NOV 2024
    -179.4 (-4.11%)
    More from Top Losers

    HFCL share price

    127.85
    03:47 PM | 5 NOV 2024
    8.5 (7.12%)

    Jindal Saw share price

    326.10
    03:29 PM | 5 NOV 2024
    16.15 (5.21%)

    Adani Energy Solutions share price

    1,014.65
    03:54 PM | 5 NOV 2024
    49.25 (5.1%)

    Oil India share price

    495.45
    03:54 PM | 5 NOV 2024
    23 (4.87%)
    More from Top Gainers

    Recommended For You

      More Recommendations

      Gold Prices

      • 24K
      • 22K
      Bangalore
      80,255.00-160.00
      Chennai
      80,261.00-160.00
      Delhi
      80,413.00-160.00
      Kolkata
      80,265.00-160.00

      Fuel Price

      • Petrol
      • Diesel
      Bangalore
      102.92/L0.00
      Chennai
      100.80/L-0.23
      Kolkata
      104.95/L0.00
      New Delhi
      94.77/L0.00

      Popular in Companies

        HomeMarketsloanPremiumMint Shorts