TPG-Backed Inova Said in Talks to Buy Mundipharma OTC Assets (1)

iNova Pharmaceuticals is in advanced talks to acquire the over-the-counter business of Mundipharma International Ltd., according to people familiar with the matter.

The deal could value the assets at about $700 million, the people said, asking not to be identified as the information is private. Negotiations are ongoing and there’s no certainty they will lead to an agreement, the people said. Other bidders could also emerge, they added.

Mundipharma is one of the overseas entities slated for sale to help pay for claims against the billionaire Sackler family members and Purdue Pharma LP over their role in the US ...