Actionable news
0
All posts from Actionable news
Actionable news in CXRX: CONCORDIA HEALTHCARE CORP,

Apollo Global (APO) Submits Bid to Acquire Concordia

Shutterstock photo

Apollo Global Management, LLC

has reportedly submitted a bid in the final round of Concordia Healthcare Corp. auction process. However, there is uncertainty regarding materialization of the deal. The news was reported by The Wall Street Journal on Monday, citing a person acquainted with the matter.

Apollo's move comes in sharp contrast with the decision of two other private-equity firms - The Blackstone Group L.P. and Carlyle Group LP - that decided not to pursue the acquisition of the Canadian pharmaceutical company despite initially expressing interest in it.

Concerns over Concordia

The report stated that prospective buyers had concerns over Concordia's ability to sustain its profitability amid the heightened regulatory scrutiny on the health-care sector in the wake of aggressive pricing of drugs by Valeant Pharmaceuticals International, Inc. .

Also the Food and Drug Administration's efforts to enhance competition in the...


More