Advent to sell stake in manufacturer and drug developer in a deal worth over $1B — report

11 Aug 2022
endpts.com
After almost three years of investment, private equity firm Advent International may look to sell its part in Bioduro-Sundia. A Reuters report on Monday detailed that Advent International plans to sell a majority stake in the manufacturing and drug development company that could value the company at over $1 billion, three people with knowledge of the matter told the news site. However, one of the sources said that a formal sale might not happen until next year. One source detailed to Reuters that the valuation would be more than $1 billion with another source saying that it could go as high as $1.5 billion. Endpoints News has reached out to both Bioduro-Sundia and Advent about the sale but they have not responded by press time and will update accordingly. San Diego-based Bioduro was brought under Advent’s wing in 2019 for an undisclosed amount and the size of the stake was not confirmed. A year later Shanghai-based Sundia merged with Bioduro, enabling the new company to have a presence both in the US and in China. The deal has been fruitful for Bioduro-Sundia as it has been expanding its presence in the US and China. In 2021 , Bioduro-Sundia acquired a 40,000-square-foot oral solid dose manufacturing site in Irvine, CA, allowing it to scale up and cater to companies that need larger-scale production. Bioduro-Sundia in July also got the ok to manufacture drugs at its facility in Wuxi, China as well. Advent has been active in the biotech industry in the past year. The company acquired the high-profile rare disease player Sobi in an $8 billion deal that took the company private.
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