Sun Pharmaceutical Industries is in talks to buy a controlling stake in Swedish drugmaker Meda AB for between $5 billion and $6 billion to boost its generics business in developed markets,two sources with direct knowledge of the matter said.
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Meda makes specialty products,over the counter drugs and branded generics – the same areas of focus as Sun Pharma.
Mumbai-based Sun Pharma is India’s most valuable drugmaker and has made a series of acquisitions in the past.
It is in talks with a clutch of banks to raise funds for a possible deal,the sources said,declining to be identified because the talks are not public.
A spokeswoman for Sun Pharma,which has a market value of roughly $20 billion,declined to comment. Meda AB was not immediately available for comment.