At least three of the world's top drugmakers are bidding for Brazil's Ache Laboratorios Farmaceuticos in an auction that may value the group at more than $5 billion, people familiar with the matter said.Pfizer Inc, Novartis AG and Abbott Laboratories are all weighing second-round offers to acquire the company, which boasts a strong position in Brazil's fast-growing pharmaceuticals market, the people said.Bids are due in the second half of April, two of the people said, asking not to be identified because the auction is not public.Privately owned Ache is attractive to drug companies looking to increase their footprint in the growing market of Latin America. But one of the families that own the company has said it would like to hold on to its stake, and uncertainty has deterred some potential bidders.
Abbott Laboratories (Abbott), is engaged in the discovery, development, manufacture, and sale of a portfolio of science-based health care products. Shares of ABT traded higher by 2.01% or $0.71/share to $36.02. In the past year, the shares have traded as low as $28.26 and as high as $35.34. On average, 11136800 shares of ABT exchange hands on a given day and today's volume is recorded at 8001963.
Novartis AG provides healthcare solutions. The Company is a multinational group of companies specializing in the research, development, manufacturing and marketing of a range of healthcare products led by pharmaceuticals. Shares of NVS traded higher by 0.33% or $0.2335/share to $71.29. In the past year, the shares have traded as low as $51.20 and as high as $71.63. On average, 1670250 shares of NVS exchange hands on a given day and today's volume is recorded at 1714821.
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