Deals and Financings
Fosun Pharma (SHA: 600196; HK: 02196) is one of the finalists in a $2 billion bidding war to acquire part of Novartis' (NVS) US portfolio of generic drugs. Novartis is auctioning off US rights to lower-margined members of its Sandoz generic portfolio while it keeps the more profitable generics. India's Aurobindo, US-based Apollo Global Management and CVC Capital Partners, a Europe-Asia PE firm, have also been asked to submit final offers. Novartis' dermatology assets are included in the package.
China Resources Pharmaceutical Group (HK: 3320) is in talks to pay $613 million