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Blackstone, Carlyle consider joint bid for Novartis generics unit

by Mike Robinson

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© Reuters. FILE PHOTO – Signage seen at The Blackstone Group Headquarters in Manhattan, New York (USA), November 12, 2021. REUTERS/Andrew Kelly

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(Reuters) – Private equity firms Blackstone (NYSE 🙂 Inc. Carlyle Group (NASDAQ:) Inc is in discussions about possibly teaming up with Novartis to bid for its generics business, Bloomberg News reported Tuesday, citing sources familiar with the matter.

According to the report the two companies studied the potential benefits of an offer from one another for Sandoz which could potentially be worth around $25 billion.

Bloomberg News reported that other buyout companies are considering bidding.

Novartis has announced that Sandoz will be under strategic review. The move comes after many years of restructuring the generics business. It was prompted by rising drug prices.

Novartis, Carlyle, and Novartis did not comment. Reuters asked Blackstone for comments.

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