Partners Group Holding AG is nearing a deal to acquire European generic drugmaker Pharmathen SA from BC Partners for around 1.6 billion euros ($1.9 billion), according to people familiar with the matter.

The buyout firms could announce an agreement in the coming days, the people said, asking not to be identified discussing confidential information. Partners Group preempted other private equity and strategic bidders to win the planned auction of the drugmaker, they said.

Founded in 1969 in Athens, Pharmathen develops and manufactures generic drugs that can be administered via tablets, drops and injection. Last year, the company had more than 30 products being lined up for launch, with a focus on the lucrative U.S. market, according to a company video. BC Partners acquired Pharmathen from its founding family for 475 million euros in 2015.

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Source: Bloomberg

By Jan-Henrik Foerster