October 7, 2019 / 2:04 PM / 10 days ago

Knight Terapeutics and Eurofarma eye Biotoscana: source

SAO PAULO (Reuters) - Canada’s Knight Terapeutics (GUD.TO) and Brazilian pharmaceuticals company Eurofarma are interested in acquiring control of Brazilian pharmaceutical company Biotoscana Investments SA (GBIO33.SA), one source with knowledge of the matter said.

Financial blog Brazil Journal reported the deal earlier on Monday, citing unnamed sources.

Biotoscana’s largest shareholders, private equity firm Advent International and specialist investment firm EW Healthcare Partners, which hold 27% and 17% of the company, respectively, are in talks to sell their stakes, Brazil Journal said.

Shares in Biotoscana were up 11.3% in early morning trading to 9 reais. Biotoscana’s bylaws mandate an offer to all shareholders if the company’s control changes.

Advent, EW Healthcare, Eurofarma, Knight Terapeutics and Biotoscana did not reply immediately to requests for comment.

Reporting by Tatiana Bautzer; Editing by David Goodman and Nick Zieminski

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