Three or four candidates? Confusion reigns around potential candidates for the acquisition of Biogaran, even though the pharmaceutical group Servier, owner of the tricolor generic, has still not officially confirmed the sale of its subsidiary. The dissolution of the National Assembly and the outcome of the early legislative elections add to the imbroglio. The only certainty in the middle of this general cacophony: the French champion, which represents more than one in eight boxes of medicine delivered in France and achieves 750 million euros in turnover in 2023, arouses desire.
Starting with that of the Benta pharmaceutical laboratory, owned by Lebanese businessman Bernard Tannoury, based in the Lyon metropolis, in Saint-Genis-Laval. The French manufacturer, which has also recently been marketing drugs on the French market under its brand name Benta Lyon, created a surprise on Saturday June 15 by submitting an offer to the Lazard bank. According to our information, the Lyonnais has put 850 million euros on the table to acquire the subsidiary of the Servier group. The proposal would be financed for a third by a European investment fund, and the rest by loans from banks.
Four years ago, the company had already caused astonishment by taking over the 16-hectare Famar factory in Saint-Genis-Laval at the commercial court. “A very difficult case, not to say suicidal”says a seasoned industrialist, who had given up on taking a position at the time, judging the business too risky.
“Drastic conditions”
The laboratory, which has made health sovereignty one of the major axes of its development (it is notably one of the beneficiaries of the France Relance 2030 plan as part of a project to relocalize six generic drugs), was thus still in the red in 2023, showing barely 12 million euros in turnover. But it plans to double its sales and be profitable in 2024. “Even so, it is difficult to see how a small company could claim to buy Biogaran, which looks like a juggernaut compared to them. It doesn’t make sense, they’re going to go into debt to death.”, we react in the entourage of a competitor. In the ranks of Biogaran subcontractors, some are just as doubtful. “I don’t really see how they could do it, but if they do, it would be a great move, and it would fill their factory.”observes one of them.
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