US private equity firm Clayton Dubilier & Rice (CD&R) is closing in on a deal to acquire a controlling stake in French pharmaceutical company Sanofi’s consumer unit in a deal that values the business at around €15bn ($16.4bn), according to a report by Bloomberg.
The report cites an unnamed source familiar with the matter as revealing that Sanofi has opted to sell a 50% stake in the business after considering a full spin-off or sale to shore up new drug development spending at its core business.
In September, Bloomberg reported that Sanofi had received two separate bids from CD&R and rival PAI Partners for the Opella unit.
The deal could be announced in the coming days, according to the report, although discussions are ongoing and no agreement has been reached yet.
Sanofi and CD&R did not immediately respond to requests for comment.
Sanofi announced in October 2023 that it was reviewing potential separation scenarios for its consumer healthcare business, with a transaction in the fourth quarter at the earliest.
