The Challenge

The Dow Chemical Company (Dow) engaged PharmaVentures to generate a transaction process and close a deal with the highest bidder for the opportunity.

Why PharmaVentures?

Dow chose PharmaVentures because its track record in conducting auctions for pharmaceutical assets, completing sales in a timely manner and returning maximum value to its clients.

The Solution

PharmaVentures conducted a thorough company screening and evaluation assessment to identify and prioritise potential acquirers with a good match for the technology and a strong strategic need in the relevant therapy area. Following the screening, within the space of a month PharmaVentures’ transaction team approached all the target companies with the value proposition using a non-confidential information package. PharmaVentures managed the exchange of Confidential Disclosure Agreements followed by providing confidential information in a memorandum, supporting management presentations and managed access to the dataroom. Finally PharmaVentures provided negotiations support leading to the sale of Dow’s API manufacturing assets to Dr Reddy’s Laboratories.

Project Statistics

• 114 potential purchasers contacted by phone
• 10 indicative offers
• 7 second round offers
• 1 company selected for exclusive negotiations
• Closed 30th April 2008 (within 6 months of engaging PharmaVentures)