Sanofi logo at the company’s headquarters during the annual results news conference in Paris, France, February 4, 2022. REUTERS
Oct 11 (Reuters) – Sanofi (SASY.PA), has entered into discussions with U.S. private equity firm Clayton Dubilier & Rice to sell a controlling 50% stake in its consumer health business Opella, the French pharmaceutical group said on Friday.
The announcement confirms an earlier Reuters report that it was closing in on a sale estimated at around 15 billion euros ($16.41 billion).
Sanofi did not disclose any financial details of the potential deal and said further updates would be provided in due course. Sanofi’s shares were down 0.46% at 0717 GMT.
The company said in October 2023 that it was reviewing potential separation scenarios for its consumer healthcare business, as it seeks to shore up new drug development spending at its core business.
In September, Bloomberg reported that Sanofi had received a bid from CD&R as well as from rival PAI Partners for the Opella business.
Opella employs more than 11,000 people and owns brands like painkiller medicine Doliprane.
Rival Johnson & Johnson (JNJ.N), spun off its consumer health business Kenvue (KVUE.N), in May last year. GSK (GSK.L), and Pfizer (PFE.N), spun off their consumer divisions in 2022.
($1 = 0.9143 euros)
Wall Street’s main indexes closed slightly lower on Thursday after higher-than-expected inflation and jobless claims data.
Reporting by Piotr Lipinski and Dominique Patton; Editing by Jan Harvey and Jane Merriman
