Arbor Pharmaceuticals explores $1 bln-plus sale - sources

Reuters
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By Jessica Toonkel and Soyoung Kim

NEW YORK, Oct 2 (Reuters) - Arbor Pharmaceuticals LLC is exploring a sale that could fetch more than $1 billion for the privately-held specialty drugmaker, according to people familiar with the matter.

Atlanta, Georgia-based Arbor, which makes prescription drugs for cardiovascular, hospital and pediatric markets, is working with JPMorgan Chase on the potential sale, the people with knowledge of the situation said on Thursday, asking not to be named because the discussions are private.

Arbor joins a number of healthcare companies considering a sale at a time when robust buyout appetite from pharmaceutical and biotech companies is driving deal volumes to their highest levels in several years.

Representatives for Arbor could not be immediately reached for comment, while JPMorgan declined to comment.

The company has branded and generic prescription products for specialty focused conditions in various stages of development, and has 280 sales professionals, according to its website.

Its products include Nitrolingual Pumpspray, indicated for acute relief of an attack or prophylaxis of angina pectoris due to coronary artery disease; EDARBI for the treatment of high blood pressure in adults; and Zenzedi for the treatment of narcolepsy or attention deficit hyperactivity disorder in pediatric patients.

(Reporting by Jessica Toonkel and Soyoung Kim in New York; Editing by Tom Brown)

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