Advent, Baxter International Preparing Bids for Private Indian Drugmaker Gland Pharma
Global buyout firm Advent International and U.S.-based Baxter International (BAX.N) are among suitors preparing to submit separate bids to buy unlisted Indian drugmaker Gland Pharma Ltd, three people with direct knowledge of the matter told Reuters.
A deal would underscore the positive outlook for drugmakers in India, which is a major supplier to the world and counts the United States as its largest export market thanks to lower manufacturing and labor costs.
Indian drugmakers are among the world's biggest producers of cheap generic medicines, as developed nations battle rising healthcare costs and big-selling drugs going off-patent in the lucrative U.S. market.
A deal would underscore the positive outlook for drugmakers in India, which is a major supplier to the world and counts the United States as its largest export market thanks to lower manufacturing and labor costs.
Indian drugmakers are among the world's biggest producers of cheap generic medicines, as developed nations battle rising healthcare costs and big-selling drugs going off-patent in the lucrative U.S. market.