Top pharmaceutical companies from India, including Cipla, Glenmark Pharmaceuticals and Sun Pharmaceutical Industries, are exploring bids for a drug portfolio of the world’s largest generic player, Teva Pharmaceutical Industries. The portfolio on sale includes 35 generic products in the US market, including oral solids, capsules, soft gels and hormones. Second round bids are due this week and the sale could fetch $500-800 million.
Teva has put its portfolio on the block following its $40.5-billion acquisition of Allergan’s generic drug business in July. Teva, which is headquartered in Jerusalem, is required to sell its portfolio of overlapping drug products in order to secure antitrust approval for the deal.