Novartis may have a buyer for Sandoz:

 

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Amid the industrywide push by Big Pharmas to spin off their generics and consumer businesses, Novartis may be on the verge of separating itself from Sandoz.

Swedish-based investment group EQT and the Struengmann family of Germany are considering a joint move to purchase the generics outfit for $21.6 billion, according to German newspaper Handelsblatt.

The price would make it the largest pharma deal of the year. EQT and the Struengmanns, who provided the investment power behind BioNTech, have attracted interest from other private equity investors to join the group, the outlet reported.

The Struengmann twins, Thomas and Andreas, have done business with Novartis in the past, selling a generics maker, Hexal, to the company in 2005, Reuters points out.

EQT and the Struengmann family have hooked up for other deals, as well. In 2014, they purchased the hearing aid unit of Siemens for $2.7 billion. (Mas)