Roche, the Swiss pharmaceuticals giant, could get Sfr3.5bn (€2.4bn) to Sfr4.5bn for the vitamins and fine chemicals division it is reportedly trying to sell to DSM, the Dutch chemicals group.

Analysts said the unit, which Roche may float instead, was worth six to eight times earnings before interest, tax, depreciation and amortisation. It had sales in 2001 of €2.4bn and an Ebitda margin of 16%.