Sanofi to sell Zentiva generics arm to Advent Posted 18/05/2018

French drugmaker Sanofi announced on 17 April 2018 that it had entered into exclusive negotiations with Advent International (Advent) under which Advent would acquire Zentiva, Sanofi’s European generics business for Euros 1.9 billion.

Sanofi is not the only drugmaker divesting its generics, UK group Shire also announced in April 2018 the sale of its oncology business to unlisted French drugmaker Servier for US$2.4 billion.

The sale is part of Sanofi’s plan to simplify and reshape the company and shift the company towards businesses with more potential for growth. Sanofi has been taking ‘a series of strategic steps’ in recent months that, as well as selling certain products, include buying biotechnology company Ablynx and US haemophilia specialist Bioverativ for US$16 billion. These acquisitions, according to Sanofi, will establish the company ‘as a new global leader in rare blood disorders’, as well as provide the company with ‘the powerful new Nanobody technology platform’.

Advent and Sanofi expect the deal to close by the end of 2018.

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Source: Sanofi

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