The German Merckle family's investment vehicle VEM Thursday said it is hoping to sell its generic drugs company Ratiopharm Group as a whole rather than in separate parts.
Selling the company in its entirety to a single bidder is its preferred option, VEM said, but it added it is also prepared to sell Ratiopharm in separate parts to different buyers.
The sale isn't likely to be completed before the first quarter of 2010, VEM said, adding there are many interested parties.
There has been varied speculation in German media regarding the potential bidders for Ratiopharm. Pharma giant Pfizer, as well as France's Sanofi Aventis, have been cited. However, Sanofi isn't interested in buying Ratiopharm, German daily Handelsblatt reported at the end of July, citing Chief Executive Christopher Viehbacher.
Ratiopharm, which generated total sales of EUR1.7 billion in 2008, is part of the business empire of deceased German billionaire Adolf Merckle.
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