Sanofi 'weighs €200m sale of older drug products'

Sanofi has reached out to potential private equity and strategic buyers but the drugs being sold are not part of Sanofi’s fast-growing immunology franchise.
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 sources said, including several mature inflammation treatments and could fetch as much as €200m.
Sanofi has reached out to potential private equity and strategic buyers but 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. In Ireland, Sanofi employs about 740 people in Waterford and around 80 in Dublin.
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 $124bn (€106bn).
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 US biotech company Principia Biopharma for about $3.4bn. 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 rose slightly in Paris trade, iving the company a market value of around €109bn. The stock extended gains from last week, when it was boosted by European regulators recommending an extension of approval for Dupixent to include child dermatitis.
Bloomberg