Seqens majority owner looking to sell API maker amid record-high run in healthcare valuations: report
Three years after it rebranded from Novacap, Seqens, a French pharmaceutical manufacturer and ingredient supplier is reportedly being prepped for sale.
The sale comes as Seqens’ private equity owners — its majority owner is Eurazeo — are hoping to cash in on the current high valuations in the healthcare market, Reuters reported Monday, citing two unnamed sources close to the matter.
Eurazeo, a French investment firm, has charged JP Morgan with finding a buyer for the company, the report said, which could be valued at upwards of $2.4 billion (2 billion euros). Seqens makes and distributes aspirin and paracetamol, among other API — which brought in earnings of around $180.9 million (150 million euros) in the company’s most recent fiscal year. That means its sale value could be 15 times that of its core earnings.
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