Czech generic drug maker Zentiva on Monday denied a report that its private equity owner Advent International had plans to sell the company.
The Hospodarske Noviny daily newspaper earlier reported, citing unnamed sources, that Advent planned to sell the company in a transaction that could be worth 2.4 billion-3 billion euros ($2.8 billion-$3.4 billion).
One of the sources was quoted as saying the sale process could start early next year.
“We are not for sale, for sure,” Zentiva spokesperson Mounira Lemoui said.
Advent bought Zentiva for 1.9 billion euros including equity and debt from France’s Sanofi in 2018.
Zentiva produces 564 formulations in its plants in the Czech Republic, Romania and India, employing more than 2,300 people combined.
Source: Reuters.com