Aurobindo and Intas submit binding offers to buyout Teva UK
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Aurobindo and Intas, the drug makers from India, are among the final contenders in the list of buyers for the UK and Irish business of Israeli generics maker Teva. Both Indian companies have submitted binding offers of about $1 billion along with firm financing commitments, multiple sources aware of the matter told ET.
Teva is selling its assets after it acquired Allergan Plc's generics business for $40.5-billion in July last year. Prior to that, around 80 of its products in the US were sold to drug makers like Dr. Reddy's, Sagent, Cipla, Zydus Cadila, Aurobindo and Perrigo.
Aurobindo and Intas are in competition with London-based PE firm
It could still take some weeks for the buyer to get finalised, and preference would be given to someone with prior experience in the European generics market.
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