(Reuters) - Clario, a software provider for drugmakers, has confidentially filed for an initial public offering in the United States and is targeting a valuation of more than $10 billion, Bloomberg News reported on Tuesday.

The U.S. IPO market has witnessed an uptick in 2024 after a nearly two-year dry spell, as expectations of a soft landing for the economy encourage companies to list their shares.

The company is working with underwriters JPMorgan Chase & Co., Morgan Stanley, Jefferies Financial Group and UBS Group AG, the report added, citing people familiar with the development.

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