India’s Aurobindo Pharma has emerged as the frontrunner to acquire Prague-based generics manufacturer Zentiva from Advent International in a deal valued at up to $5.5bn, in what would be one of the largest European healthcare exits of the year, according to a report by the Economic Times.
Advent acquired Zentiva from Sanofi in 2018 for €1.9bn, subsequently expanding the platform through acquisitions and organic growth to become a major European supplier of generic and OTC medicines. A sale at the mooted valuation would represent a significant return for Advent, underscoring private equity’s continued ability to generate outsized exits in the healthcare sector.
While Aurobindo is currently seen as the lead bidder, the company said in an exchange filing that its board has not yet signed any binding agreements.
