Aurobindo Pharma has emerged as the frontrunner to acquire Prague-based generic drugmaker Zentiva for $5-5.5 billion (Rs 43,500-47,900 crore) from Advent International, The Economic Times reported on Wednesday.
If successful, this will be the largest-ever acquisition by an Indian pharma company, both at home and abroad, trumping the $3.2-billion acquisition of Daiichi Sankyo’s stake in Ranbaxy in 2014, or Biocon Biologics’ $3.3 billion cash and stock buyout of the global biosimilars business of US-based Viatris, according to the report.
Aurobindo is competing with US private equity firm GTCR, the other serious contender left in the fray, the report said.
Since late last year, Advent has been engaged with advisers Goldman Sachs and boutique investment bank PJT Partners to explore exit options for Zentiva, which it acquired seven years ago.
For calendar 2024, Zentiva Group’s revenues were 1.7 billion euros ($1.98 billion) at an EBITDA of 400 million euros ($467 million), the report said.
