Pfizer Inc. (PFE), Novartis AG (NVS), Abbott Laboratories (ABT) Weigh Bids for Brazil's Ache, Which Can be More Than $5 Billion
4/3/2013 7:05:04 AM
At least three of the world's top drugmakers are bidding for Brazil's Ache Laboratorios Farmaceuticos in an auction that may value the group at more than $5 billion, people familiar with the matter said. Pfizer Inc, Novartis AG and Abbott Laboratories are all weighing second-round bids to acquire the company, which boasts a strong position in Brazil's fast-growing pharmaceuticals market, the people said. Bids are due in the second half of April, two of the people said, asking not to be identified because the auction is not public. Privately owned Ache is attractive to drug companies looking to increase their footprint in the growing market of Latin America. But one of the families that own the company has said it would like to hold on to its stake, and uncertainty has deterred some potential bidders.