Investment group to sell stake in generic drug firm

RoundTable Healthcare Partners, a private equity firm focused exclusively on the healthcare industry, has agreed to sell Sabex Holdings, a Canadian generic drug manufacturer, to Sandoz, a Novartis company, for $565 million. Roundtable acquired its majority interest in Sabex in April 2002. Based in Boucherville, Quebec, Sabex makes and distributes generic injectable drugs. Roundtable officials said the firm's strategy of partnering with companies to create growth and value worked well with Sabex. The sale will deliver to its limited partners "a significant multiple of their invested capital," they said. The deal, which requires regulatory approval, is expected to close in early July. -- by Cinda Becker