Sanofi To Sell European Generics Business for $2.2 BillionBy
Sanofi and Advent International, a Boston-based private-equity firm, have finished negotiations for Advent’s acquisition of Zentiva, Sanofi’s European generics business, after signing a share purchase agreement worth EUR 1.9 billion ($2.2 billion) on an enterprise value basis. The companies announced that they had entered into exclusive talks in April 2018.
Zentiva provides generic drugs covering a range of therapeutic areas in Europe. Headquartered in Prague, Czech Republic, Zentiva reaches more than 40 million patients in 25 European countries, according to information from Sanofi. Zentiva has manufacturing facilities in Prague and Bucharest, Romania, which produce and distribute more than 350 million packs each year.
The transaction is expected to close by the end of 2018, subject to approval of relevant regulatory authorities.