Baxter One Of Several Firms Said To Be Exploring An Acquisition Of India-Based Gland Pharma

According to a report by

,

is among 1 of several players that are eyeing an acquisition of India-based Gland Pharma. Reuters, citing "three people with direct knowledge of the matter," added that Advent International and Indian drugmaker Torrent Pharmaceuticals are also exploring an acquisition of Gland Pharma. Indian drugmakers, like Gland Pharma, are among the world's largest manufacturers of generic drugs, Reuters pointed out. The company makes injectables which are widely used medicines administered through vials, syringes, bags and pumps. These types of medicines are harder to manufacture when compared to regular medicines. A recent run up in injectables over the past years has attracted investors' interest to companies like Gland Pharma. Gland Pharma's founders and the private equity firm

are selling their combined 96 percent stake which is valued between $1 billion and $1.5 billion. Reuters also pointed out that KKR invested $200 million in Gland Pharma in 2013 but the size of the stake was not disclosed. However, the company was valued at just $600 million at that time. Shares of Baxter were trading lower by around 0.15 percent Friday morning while shares of KKR were higher by more than 0.50 percent.