- Sanofi
- 11 October 2024 08:40:48
Source: Sharecast
According to a company announcement on Friday, the current discussions centre around a 50% controlling stake in Opella.
Sanofi didn't disclose any financial details regarding the talks, but Bloomberg cited sources suggesting a deal could value the division at €15bn.
The French outfit had previously indicated it was looking to separate its Opella consumer healthcare arm via a spinoff, IPO or sale. Demerging Opella will allow Sanofi to focus on innovative medicines and vaccines, the company said.
Opella, which employs over 11,000 people and operates in 100 countries, is the world's third-largest provider of over-the-counter vitamins, minerals, and supplements, known for brands like constipation relief treatment DulcoLax and pain relief gel Icy Hot.
The division, which saw sales rise by 6.3% in 2023, already operates as a standalone business unit within Sanofi, manage 13 of its own manufacturing sites and four R&D centres.
"Should these discussions lead to a positive outcome, any agreement would be subject to the completion of the necessary social processes. Further updates on the potential separation of Opella will be provided in due course, when a decision is made," Sanofi said.
