AGL 39.94 Decreased By ▼ -0.06 (-0.15%)
AIRLINK 128.98 Decreased By ▼ -0.08 (-0.06%)
BOP 6.86 Increased By ▲ 0.11 (1.63%)
CNERGY 4.70 Increased By ▲ 0.21 (4.68%)
DCL 8.64 Increased By ▲ 0.09 (1.05%)
DFML 41.00 Increased By ▲ 0.18 (0.44%)
DGKC 82.75 Increased By ▲ 1.79 (2.21%)
FCCL 33.11 Increased By ▲ 0.34 (1.04%)
FFBL 73.69 Decreased By ▼ -0.74 (-0.99%)
FFL 11.89 Increased By ▲ 0.15 (1.28%)
HUBC 109.55 Decreased By ▼ -0.03 (-0.03%)
HUMNL 14.26 Increased By ▲ 0.51 (3.71%)
KEL 5.25 Decreased By ▼ -0.06 (-1.13%)
KOSM 7.62 Decreased By ▼ -0.10 (-1.3%)
MLCF 39.25 Increased By ▲ 0.65 (1.68%)
NBP 64.38 Increased By ▲ 0.87 (1.37%)
OGDC 193.20 Decreased By ▼ -1.49 (-0.77%)
PAEL 25.66 Decreased By ▼ -0.05 (-0.19%)
PIBTL 7.36 Decreased By ▼ -0.03 (-0.41%)
PPL 153.50 Decreased By ▼ -1.95 (-1.25%)
PRL 25.40 Decreased By ▼ -0.39 (-1.51%)
PTC 17.40 Decreased By ▼ -0.10 (-0.57%)
SEARL 78.50 Decreased By ▼ -0.15 (-0.19%)
TELE 7.72 Decreased By ▼ -0.14 (-1.78%)
TOMCL 33.50 Decreased By ▼ -0.23 (-0.68%)
TPLP 8.39 Decreased By ▼ -0.01 (-0.12%)
TREET 16.45 Increased By ▲ 0.18 (1.11%)
TRG 56.79 Decreased By ▼ -1.43 (-2.46%)
UNITY 27.50 Increased By ▲ 0.01 (0.04%)
WTL 1.38 Decreased By ▼ -0.01 (-0.72%)
BR100 10,521 Increased By 75.6 (0.72%)
BR30 31,085 Decreased By -104.7 (-0.34%)
KSE100 98,630 Increased By 831.9 (0.85%)
KSE30 30,770 Increased By 289.2 (0.95%)

French healthcare group Sanofi is in exclusive talks to sell its Zentiva European generics drugs arm to private equity firm Advent International for 1.9 billion euros ($2.4 billion), the companies said on Tuesday. Sanofi said the sale was expected to be completed before the end of the year, and Advent's offer was binding and fully financed. The 1.9 billion euros price is an enterprise value, including equity and debt. Sanofi has been reshaping its business in recent months, spending more than $16 billion to buy biotech company Ablynx and US haemophilia specialist Bioverativ, but also selling off some assets.
Earlier last week, it sold some brands to Charterhouse Capital Partners' Cooper-Vemedia drugs manufacturing arm for 158 million euros. "Following a comprehensive review of strategic options for our generics unit in Europe, we have determined that transferring this business to Advent is the best option to ensure its long-term success," Sanofi Chief Executive Olivier Brandicourt said in a statement.
The planned sale of Zentiva began in October after Sanofi spent more than a year carving out the division to create a stand-alone company that could be sold to one of its competitors or to an investment fund.

Copyright Reuters, 2018

Comments

Comments are closed.