Stada, Angelini among final bidders for $1 bln Bristol-Myers’ Upsa unit, say sources: Reuters

German drugmaker Stada and Italian healthcare company Angelini are the only industry players to be shortlisted to make final bids for Bristol-Myers Squibb’s French over-the-counter drugs business, four sources close to the deal said. Two private equity firms, CVC Capital Partners and PAI Partners, have also made it through to the final round of the auction for Upsa, the maker of Dafalgan and Efferalgan painkillers, the sources told Reuters. The sale, which is handled by Jefferies and Deutsche Bank, is worth about 1 billion euros ($1.1 billion). Bristol-Myers Squibb (BMS) has given bidders a deadline of late November to submit their final proposals, the sources said. BMS, Stada and CVC declined to comment while Angelini and PAI were not immediately available for comment.

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