Drug firm Ikaria on the block for more than US$2 billion: insiders
ReutersNEW YORK--Ikaria Inc., a private equity and venture capital-backed company whose products are focused on critically ill patients, is exploring a sale that it hopes could value it at more than US$2 billion, three people familiar with the matter said this week.
October 5, 2013, 12:01 am TWN
Ikaria, whose owners include New Mountain Capital LLC, ARCH Venture Partners LP and Venrock Associates LP, is working with Morgan Stanley (MS.N) and Credit Suisse Group AG (CSGN.VX) on the possible sale, two of the people said.
The sources requested anonymity because the sale process is confidential. Ikaria and Credit Suisse declined to comment, while representatives for Morgan Stanley and Ikaria's main shareholders did not respond to requests for comment.
The company was created in 2007 when investors led by New Mountain merged a biotechnology company also called Ikaria with German industrial gas producer Linde AG's (LING.DE) INO Therapeutics, in a US$670 million cash and stock deal.