Zydus Group is exploring the sale of its clinical research business, Cliantha Research Ltd, in a deal that could potentially fetch more than $200 million, three people familiar with the development said.
The Zydus family is seeking a price of between $200 million and $250 million for Cliantha Research, the people cited above said, requesting anonymity. Investment bank Moelis & Co. has been hired by the Zydus promoters to manage the sale process, and several private equity investors have been approached for a potential deal, the people said.
Zydus promoters Pankaj Patel and his family independently own Cliantha Research. The company is, however, not part of the publicly traded Zydus Life Sciences Ltd.
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