BC Weighs Sale of $1.8 Billion Drugmaker Pharmathen

(Bloomberg) -- BC Partners is weighing a sale of European generic drugmaker Pharmathen, which could be valued at as much as 1.5 billion euros ($1.8 billion), according to people familiar with the matter.

The private equity firm is speaking with potential advisers as it considers options for the business, the people said, asking not to be identified discussing confidential information.

Founded in 1969, Pharmathen develops and manufactures generic drugs that can be administered via tablets, drops and injection. Last year, the company had more than 30 products being lined up for launch, with a focus on the lucrative U.S. market, according to a company video. BC Partners acquired Pharmathen from its founding family for 475 million euros in 2015.

Deliberations are ongoing, and BC Partners could decide to keep Pharmathen, the people said. A representative for BC Partners declined to comment. A representative for Pharmathen didn’t immediately provide comment.

Any sale would add to the $24.5 billion of deals already struck in Europe’s health-care industry this year, according to data compiled by Bloomberg. That’s up almost 400% on this point a year ago and the most for a first quarter since 2017, the data show.

BC Partners is in the midst of raising a record 8.5 billion euros for its next flagship buyout fund. The firm stuck to its target during the coronavirus pandemic and aims to finish collecting investor capital this year, Bloomberg News reported previously.

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