Consortium poised to buy France's Ethypharm
Two investment funds and three industrial companies are reportedly in the running to acquire French formulations firm Ethypharma. However, offers are said to reflect a lower valuation than in 2001 when the enterprise failed to list on the Bourse.
The bidders include two Indian groups, a European company and three industrial enterprises. The current sale values the company less than 300.0 million euros ($389.7 million) with a value of over 600.0 million euros in 2001.
Founded in 1997, Ethypharm is involved in developing new formulations of innovative drugs for major groups, especially slow-release and other formulation technologies. In 2005, the firm's sales reached 112.0 million euros.
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