EQT, Biontech investor household take into account Sandoz bid

© Reuters. FILE PHOTO: A normal view of the BioNTech constructing the place the manufacturing of the coronavirus illness (COVID-19) vaccine has began in Marburg, Germany, November 18, 2021. REUTERS/Fabian Bimmer

ZURICH (Reuters) – Funding group EQT (NYSE:) and members of the Struengmann household, who’re buyers in Biontech, are contemplating a joint bid for Swiss pharmaceutical group Novartis’s generics division Sandoz, German newspaper Handelsblatt reported on Friday, citing unnamed sources.

A possible provide may worth Sandoz at greater than 20 billion Swiss francs ($21.58 billion), the newspaper reported.

Novartis in October raised the prospect of divesting Sandoz after years of revamping the enterprise, as value pressures mount within the off-patent drug sector.

It stated on the time it had begun a strategic evaluation which might “discover all choices, starting from retaining the enterprise to separation, with a purpose to decide how one can finest maximize worth for our shareholders”.

The Struengmann household and EQT, who’ve already made a number of joint investments, have been seeking to convey additional buyers on board as a consortia for a possible deal, Handelsblatt reported.

EQT declined remark. Novartis didn’t instantly reply to requests by telephone and e mail for remark.

The Swiss drugmaker in 2019 spun off its eyecare division Alcon (NYSE:), marking the biggest Swiss inventory deal in a decade when it made its debut with a market capitalisation of greater than $25 billion.

($1 = 0.9268 Swiss francs)

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