International Flavors & Fragrances mulls $3.5 billion sale of pharma unit – Bloomberg News

(Reuters) -International Flavors & Fragrances is working with an adviser to explore a potential sale of its pharma solutions business, Bloomberg News reported on Monday, citing people familiar with the matter.

The unit could fetch about $3.5 billion in sale, according to the report.

The pharma business was expected to garner interest from IFF’s peers and private equity firms, Bloomberg reported.

IFF’s pharma unit accounted for about 8% of the company’s total sales last year.

IFF did not immediately respond to a Reuters request for comment.

(Reporting by Juveria Tabassum; Editing by Anil D’Silva)