Viatris Is Said in Talks to Sell European OTC Assets to CVC Arm

Viatris Inc. is in talks to sell its European consumer-health assets to a company owned by buyout giant CVC Capital Partners, according to people familiar with the matter.

CVC’s over-the-counter drugmaker Cooper Consumer Health is in advanced negotiations on a purchase of the portfolio, which could be valued at more than €2 billion ($2.1 billion), the people said. It has emerged as the most serious contender after other suitors dropped out, the people said.

No final agreements have been reached and the discussions could still fall apart, the people said, asking not to be identified because the information is ...