GlaxoSmithKline (GSK) has shortlisted a group of private equity funds and strategic bidders for the sale of its non-core over-the-counter products. The bidders include private equity funds Bain Capital, Blackstone and German pharmaceutical group Boehringer Ingelheim.
The sale will fetch the U.K. pharmaceutical company an estimated £1.5 billion. Other interested firms include Thomas H. Lee Partners, Bayer Group and Brussels-listed pharmaceutical company Omega Pharma. Final-round bids are likely to be tendered at the end of September or early October. The process is being managed by Goldman Sachs.