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Blackstone, Carlyle Depart Concordia Healthcare’s Sale Process

Concordia had formed a special committee to assess strategic alternatives for the company

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Photo: ©iStockphoto.com/FotografiaBasica

Two private-equity giants have walked away from the auction process of Concordia Healthcare Corp., on concerns that the Food and Drug Administration’s efforts to speed up drug approval processes may hurt the Canadian pharmaceutical company’s earnings, people familiar with the situation said.

Final bids for Concordia were due Tuesday, but Blackstone Group LP and Carlyle Group LP decided not to participate, the people said.

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