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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