Sanofi has confirmed that it is in discussions with US private equity firm Clayton Dubilier & Rice (CD&R) regarding the sale of a 50% controlling stake in Opella, its consumer healthcare division.
The transaction, which could be worth around €15bn, may be announced shortly, according to sources cited by Reuters.
The agreement, if finalised, will be subject to the completion of required social processes. Both Sanofi and CD&R have not provided comments on the negotiations.
The possible divestiture of Opella is part of Sanofi’s plan to concentrate on its core operations of developing medicines and vaccines, shifting resources towards new drug spending. In October 2023, Sanofi had indicated that it was considering different options for separating its consumer healthcare business, with any transaction anticipated in the fourth quarter at the earliest.
Opella, based in France, operates in the consumer healthcare market across 100 countries.
The company employs over 11,000 people and manages 13 manufacturing sites and four research and innovation centres. Its products include brands such as Allegra, Doliprane, Icy Hot, Novanight, and Dulcolax, making Opella a major entity in the over-the-counter and vitamins, minerals, and supplements markets.
In 2023, Opella reported a 6.3% sales growth at constant exchange rates.
Reports indicate that CD&R outbid PAI Partners in securing the potential acquisition of Opella. In September, both CD&R and PAI Partners submitted bids for the unit. Bloomberg News recently confirmed CD&R’s ongoing interest in acquiring a controlling stake in Opella.
Sanofi has been working towards separating its consumer healthcare business as part of a broader strategic review, focusing on the expansion of its pharmaceutical and vaccine portfolio. Opella has already been functioning as an independent unit within Sanofi, with its own research, production, digital resources, and sustainability efforts, positioning it for a transition to standalone status.
Sanofi indicated that further information regarding the outcome of the discussions and the timeline for any formal agreement is expected soon.
Earlier this week, Italian pharmaceutical firm Recordati agreed to acquire Sanofi’s biologic drug Enjaymo (sutimlimab) to expand its rare diseases portfolio.
