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Reports suggest that Cipla, JB Chemicals, and Torrent Pharmaceuticals are the participants in the final round to buy Medley Pharma.
Medley Pharma is a global pharmaceutical company that has been in operation since 1969 in Mumbai, India. In 1976, the company set up a formulation plant in Aurangabad followed by Jammu and Daman. It has specialties in the fields of Hematinics, Anti Ulcerants, Antibacterials, Pain Management, Gynecology & cardiovascular drugs.
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The company employs over 3,000 employees and is among the top 40 pharmaceutical companies in India according to ORG IMS and IQVIA. The company also specializes in Iron preparations and manages the famous brand R. B. Tone syrup alongside other first-time brands like Dompan, O2, Tazocef & Ostium k2.
We at Jobaaj were among the earliest to report on the potential sale of Medley Pharma. According to people with direct knowledge of the matter, several parties have expressed interest in the acquisition of Medley Pharma as several parties submitted bids.
2-3 PE funds are also reported to have shown interest, but pharmaceutical companies have shown greater interest as they bid higher, around the tune of Rs 4,500 crores. Cipla is reported to be the most aggressive party in this race.
No confirmation was available for the same from either party. Kotak Mahindra Capital is serving as an advisor to the promoters of Medley Pharma.
Article by Aman Agarwal.
This news piece is brought to you in association with Jobaaj.com
