Sanofi healthcare group sells unit for €1.9bn

French healthcare group Sanofi, which employs 700 people in the Republic, is in exclusive talks to sell its Zentiva European generics drugs arm to private equity firm Advent International for €1.9bn.

Between the former Genzyme plant in Waterford, which it acquired as part of a global deal seven years ago, and a facility in west Dublin, Sanofi employs about 700 people.