Sanofi Said to Weigh Sale of Some Anti-Inflammatory Products
(Bloomberg) -- Sanofi is weighing a sale of some of its older anti-inflammatory products, according to people familiar with the matter, as it swivels toward innovative new therapies.
The French drugmaker is studying options for the assets, the people said, asking not to be identified because the information is private. The assets include several mature inflammation treatments and could fetch as much as 200 million euros ($234 million), according to the people.
Sanofi has reached out to potential private equity and strategic buyers, one person said. The drugs being sold are not part of Sanofi’s fast-growing immunology franchise, which includes the blockbuster medicine Dupixent.
A representative for Sanofi declined to comment.
Health care has been a sweet spot for dealmakers in recent months. Transaction volumes in the sector rose around 65% globally in the third quarter to $124 billion, according to data compiled by Bloomberg. Companies’ renewed desire to access lucrative therapies for cancer and other rare diseases through acquisitions has been driving the trend.
Sanofi is among the drug companies hunting for new drivers of growth even as they race to develop vaccines and therapies to try to defeat Covid-19. In August, it agreed to acquire U.S. biotech company Principia Biopharma Inc. for about $3.4 billion. That deal will give Sanofi access to treatments for multiple sclerosis and a range of autoimmune disorders.
Paul Hudson, who became chief executive officer of Sanofi just over a year ago, is trying to rejuvenate the Paris-based company by focusing on fast-growing areas where new medicines command high prices.
Shares of Sanofi were trading 1.06% higher at 12:53 p.m. in Paris on Monday, giving the company a market value of around 109 billion euros. The stock extended gains from Friday, when it was boosted by European regulators recommending an extension of approval for Dupixent to include child dermatitis..
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