2023-03-31 16:09:59 ET
Viatris ( NASDAQ: VTRS ) is asking for new offers for its European consumer-health assets after initial bids failed to meet its expectations.
The company has asked potential buyers to resubmit their offers, according to a Bloomberg report, which cited people familiar. It's also decided to exclude erectile-dysfunction drug Viagra as part of the sale.
Viatris ( VTRS ) was originally try to fetch €3 billion ($3.3 billion) for the sale and has been asking for offers for the whole unit, though now it may consider selling parts of the portfolio, according to the report.
The update comes after Bloomberg last month reported that Advent International's Zentiva generics business and Bain-backed drugmaker Stada Arzneimittel were evaluating offers for Viatris ( VTRS ) consumer-health assets.
Viatris ( VTRS ) was formed following the merger of Mylan and Pfizer's Upjohn unit. Bloomberg reported in November the company's potential plans to sell its consumer-health assets in Europe.
For further details see:
Viatris asks for new bids for OTC business after initial offers disappoint - report