LONDON—Mundipharma International Ltd., the UK-based pharmaceutical firm with ties to the Sackler family of the US, has once again failed to find a buyer for its China operations, despite valuing the unit at over USD 1 billion. The company, known for manufacturing the painkiller OxyContin, has engaged in at least two bidding rounds through Deutsche Bank, yet no deal has been sealed, as reported by sources familiar with the matter .
The inability to reach a conclusion is reportedly due to Mundipharma’s high valuation target, which did not align with the potential buyer’s estimate . Mundipharma’s commitment to the Chinese market remains firm, as stated in an email, highlighting the company’s dedication to supporting healthcare professionals and patients in the region .
Data reveals that Mundipharma currently possesses five valid market approvals in China, encompassing a range of medications from morphine to indomethacin . The company’s China business, initiated in 1993, is a significant contributor to the global sales of Mundipharma, which reached $1.7 billion in 2022 .
This setback comes amidst a broader trend of Western firms reassessing their presence in China’s economy, influenced by factors such as slowing growth and geopolitical concerns . Mundipharma’s journey to find a suitable buyer for its China unit continues to be a complex negotiation amid these market dynamics.- Flcube.com
