Angelini Pharma Said to Discuss Combination With CVC’s Recordati

Italian drugmaker Angelini Pharma SpA is in talks on a potential combination with domestic peer Recordati SpA, which is owned by private equity firm CVC Capital Partners Plc, according to people familiar with the matter.

Angelini and Recordati have been discussing the possibility of a deal that would create a larger European generic drugmaker, said the people, who asked not to be identified as the information is private. Private equity suitors’ interest in Recordati has waned, the people said.

Bloomberg News reported in June that KKR & Co., TPG Inc. and Advent International had been in the early ...