Intas & Dr Reddy’s in race with PEs to buy US’ Athenex

Athenex, which is into the development of cell therapies to treat cancers, had hired investment advisory firm Cowen Inc to run a formal process to find a buyer. “A formal process has started and the first round of offers have come in,” said one of the people. “Intas and Dr Reddy’s are the two Indian firms in the race at present. A transaction could be concluded during the current quarter.”