Sanofi, which has its U.S. headquarters in Bridgewater, received separate bids from private equity firms over the weekend for its consumer health care company that value the unit close to $17 billion. New York-based buyout firm Clayton Dubilier & Rice and its French rival PAI Partners are in competition to purchase the pharmaceutical giant’s planned spinoff, Bloomberg reported this week.
Last October, Sanofi announced plans to separate its consumer care unit to increase investment in its drug-development pipeline and cut costs as early as the fourth quarter. At that time, Sanofi was said to be reviewing potential separation scenarios for its consumer health care business.
“We remind you that, as announced in October 2023, Sanofi is reviewing potential separation scenarios for the consumer health care business with a transaction in the fourth quarter of 2024 at the earliest. Preparation for this potential separation project is on track with previously communicated timelines. No decision has been made yet, and we expect to select the best option for Sanofi and its stakeholders in the next few months,” a Sanofi spokesperson said in an email. “We are keeping all options open, including a listing, and a sale, to maximize value creation for all our stakeholders. And, as we have always said, we will provide more information as the project evolves.”
Last year, Sanofi said spinning off that portion of the company would allow it to increase its focus on innovative medicines and vaccines.
Sanofi’s consumer health unit includes popular over-the-counter products like Phytoxil, Icy Hot and Dulcolax.
