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Novartis subsidiary Sandoz: Biontech major shareholders are considering a billion-dollar deal in the pharmaceutical sector

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Novartis announced in October that it would initiate a strategic review of its generics business, Sandoz.

Photo: Sandoz

Frankfurt According to circles, the Strüngmann family behind the Covid vaccine manufacturer Biontech and the financial investor EQT are considering a joint offer for the generics division Sandoz of the Swiss pharmaceutical company Novartis. The Strüngmanns and EQT, who have already made some investments together, also want to work together on this issue, said several people familiar with the matter.

Whether and to what extent the family will be financially involved is still open. Other investors could join in as well.

Sandoz could be valued at more than 20 billion Swiss francs on a sale. Some financial investors are considered interested. Given the size, it is expected that they will form consortia. A transaction would amount to the largest private equity deal in the pharmaceuticals industry to date.

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Reference-www.handelsblatt.com

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