India-based Torrent Pharmaceuticals ready to offer €2bn for Sanofi’s Zentiva

India-based drugmaker Torrent Pharmaceuticals is ready to submit a €2bn offer for Zentiva, Sanofi’s European arm producing and marketing generics. The €2bn offer corresponds to 13X the division’s 2017 EBITDA, which was $150m.

Bidders reportedly include private equities Carlyle and Blackstone. The France-based group expects to complete the divestiture before the end of the year and has already set the deadline for bids on March 28th.

(Source: Livemind)