Blackstone, Carlyle consider joint bid for Novartis generics unit – Bloomberg News

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FILE PHOTO: Signage is seen outside The Blackstone Group headquarters in Manhattan, New York

– Private equity firms Blackstone Inc and Carlyle Group Inc are in talks about potentially teaming up on a bid for Swiss drugmaker Novartis’ generics unit, Bloomberg News reported on Tuesday, citing people with knowledge of the matter.

The companies have been studying the merits of a joint offer for the Sandoz business, which could be valued at around $25 billion, according to the report.

Other buyout firms are also considering bids, Bloomberg News said.

Last year, Novartis announced a strategic review of its generics unit, Sandoz, after years of revamping the business, as price pressures mount in the off-patent drug sector.

Carlyle and Novartis declined to comment, while Blackstone did not immediately respond to a Reuters request for comment.

(Reporting by Dania Nadeem in Bengaluru; Editing by Shounak Dasgupta)