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Ruskin Felix Consulting

Ruskin Felix Consulting

Billion-Dollar Bids for Cipla

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Many industry giants are interested in securing a deal with CIPLA which has led to a discussion over the future of India’s third-largest generics firm by revenue. Torrent Pharmaceuticals is reportedly in preliminary discussions with Apollo Global Management to secure a loan of up to $1 billion. This funding is intended to support Torrent’s planned bid for Cipla, a much larger rival in the industry.

Torrent aims to secure approximately $3 billion to $4 billion in total financing for this bid. If successful, this could potentially be India’s largest pharma deal to date. The deal’s financial implications are substantial, as it involves not only the borrowing of a large sum but also the acquisition of a major player in the pharmaceutical industry.

A Change in the Healthcare Segment

Cipla’s founding family is reportedly keen to sell their 33.4% holding, and a bid for that amount would trigger an open offer for another 26% as per Indian regulations. This move by Torrent underscores the dynamic nature of the pharmaceutical industry and the strategic maneuvers companies undertake to consolidate their market position.

Blackstone, the world’s largest private equity firm, has also shown interest in Cipla. Reports suggest that Blackstone could submit a non-binding bid for the entire 33.47% promoter stake in Cipla. If successful, this could lead to the exit of the Hamied family, which founded the company in 1935. This acquisition could potentially reshape India’s drug market dynamics significantly.

Individuals mindful of this situation, Blackstone will launch an open offer for an additional 26% of the firm if this purchase goes through. If this goes through, Blackstone could theoretically control up to 59.4 percent of the pharmaceutical behemoth.

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