Sanofi To Sell European Generics Business for $2.4 BillionBy
Sanofi and Advent International, a Boston-based private-equity firm, have entered into negotiations under which Advent would acquire Zentiva, Sanofi’s European generics business for EUR 1.9 billion ($2.4 billion).
Advent will work with Sanofi to form a new independent operation. Advent will support the Zentiva management team to invest in the company’s operations, production facilities, and research & development pipeline.
Zentiva provides generic drugs covering a multitude 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.
The transaction is expected to close by the end of 2018, subject to finalization of definitive agreements, completion of the appropriate social processes, and approval of relevant regulatory authorities. Sanofi says that this process will be conducted in full respect of social dialogue with Sanofi employee representatives.