After almost three years of investment, private equity firm Advent International may look to sell its part in Bioduro-Sundia.
A Reuters report on Monday detailed that Advent International plans to sell a majority stake in the manufacturing and drug development company that could value the company at over $1 billion, three people with knowledge of the matter told the news site.
However, one of the sources said that a formal sale might not happen until next year.
One source detailed to Reuters that the valuation would be more than $1 billion with another source saying that it could go as high as $1.5 billion.
Endpoints News has reached out to both Bioduro-Sundia and Advent about the sale but they have not responded by press time and will update accordingly.
San Diego-based Bioduro was brought under Advent’s wing in 2019 for an undisclosed…
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