(Reuters) -British private equity firm Permira has put its contract drugmaker Cambrex up for sale, targeting a valuation of as much as $4 billion, the Financial Times reported on Saturday, citing people familiar with the matter. Cambrex has been a huge beneficiary of a push by global drugmakers to shore up their U.S. manufacturing capacity […]
Health
Permira seeks $4 billion for sale of contract drugmaker Cambrex, FT reports
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(Reuters) -British private equity firm Permira has put its contract drugmaker Cambrex up for sale, targeting a valuation of as much as $4 billion, the Financial Times reported on Saturday, citing people familiar with the matter.
Cambrex has been a huge beneficiary of a push by global drugmakers to shore up their U.S. manufacturing capacity and domestic inventory due to looming drug import duties proposed by President Donald Trump, the FT said.
Trump, looking to reverse decades of moving manufacturing abroad to cut costs, said last month that he plans to impose phased-in tariffs for the pharmaceutical sector that could eventually rise to 250%.
Permira bought Cambrex, which provides drug developers with manufacturing and testing services, for about $2 billion in 2019.
In August, Permira, which manages about 85 billion euros ($99.51 billion) in assets across multiple sectors, made a $3 billion offer for vaccine maker Bavarian Nordic along with Nordic Capital.
Permira declined to comment. Cambrex did not immediately respond to a request for comment.
($1 = 0.8542 euros)
(Reporting by Anusha Shah in Bengaluru; Editing by Aidan Lewis)