Sources say iNova in talks to buy Mundipharma's OTC unit: report
06 Apr 2023
AcquisitionPatent Infringement
iNova Pharmaceuticals is said to be in advanced talks to acquire Mundipharma's over-the-counter (OTC) business for a potential value of $700 million, Bloomberg reported Thursday citing people familiar with the matter. Negotiations are ongoing and there is no guarantee that an agreement will be reached, the people said.
A report last year indicated that the Sackler family's attempt to sell Mundipharma's Chinese assets for more than $1 billion had stalled after bids failed to meet expectations. The plan to offload Mundipharma China came as the Sacklers offered over $4 billion in a settlement for Purdue Pharma, another drug company they own, to resolve ongoing opioid lawsuits in the US.
Mundipharma focuses on pain management, infectious diseases and other serious illnesses. Its consumer health business includes the antiseptic Betadine. Meanwhile, iNova Pharma specialises in distributing a range of pharmacy products and prescription medicines, including brands like Difflam, Duro-Tuss, Demazin and Dequadin.
Last year, TPG acquired a majority stake in iNova Pharma, while Pacific Equity Partners re-invested as a minority stakeholder.
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