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Boehringer's Roxane Labs draws bid from Hikma, Mallinckrodt- Bloomberg

Mon, 29th Jun 2015 22:37

June 29 (Reuters) - Jordan's Hikma Pharmaceuticals Plc has emerged as a bidder for German drugmaker BoehringerIngelheim's generics unit Roxane Labs, Bloomberg reported,citing people familiar with the matter.

Other bidders for the U.S.-based Boehringer unit includeMallinckrodt Plc and Perrigo Co, and a decisioncould be made within weeks for a sale that could fetch as muchas 2 billion euros ($2.3 billion), Bloomberg reported. (http://bloom.bg/1NqCMdX)

However, there is a possibility that the company may chooseto retain the asset, Bloomberg reported.

A spokesman for Perrigo declined to comment. Representativesat Hikma, Boehringer and Mallinckrodt were immediately notavailable for comment.

In January, Reuters reported that Boehringer, Germany'ssecond largest drug maker, was considering a sale of Roxane toput a stronger focus on the development and sale of newpharmaceuticals.

A company spokeswoman at the time said that Boehringer wasnot a specialist in generics and was therefore consideringwhether it made more sense for a generics specialist to ownRoxane Labs.

Roxane's activities include the development and marketing ofBoehringer's generic drugs. It also has a production site makingboth generic drugs and some of Boehringer's patent-protecteddrugs.

Boehringer had sales of 13.3 billion euros in 2014, of which76 percent was from prescription medicines.($1 = 0.8902 euros) (Reporting by Shivam Srivastava in Bengaluru; Editing by LeslieAdler)

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