Sanofi could resell Doliprane to an American fund: what you need to know about this 15 billion euro transaction

Opella, which produces the famous Doliprane, could be sold to an American fund. MAXPPP – Vincent Isore

The French Minister for Industry, Marc Ferracci, “took note” on Thursday evening, October 10, of the decision by the pharmaceutical group Sanofi, reported by the media, to enter into exclusive negotiations with the American fund CD&R as part of the sale of Opella (Doliprane).

“Following the press announcement of Sanofi's decision to pursue exclusive discussions with CD&R in the context of the sale of Opella", the minister “acknowledges this decision, while reminding both parties of the government's points of vigilance, both on the economic and health front", according to a reaction sent to AFP by his ministry.

The economic newspaper Les Echos reported that Sanofi's board of directors has decided "to open, as a first step, exclusive discussions with the American fund", which offered more than 15 billion euros to acquire "50% or more"of the French group's consumer healthcare subsidiary. Contacted by AFP, Sanofi did not confirm but specified that a communication is planned for Friday.

“Positive outlook”

This activity, which includes more than a hundred brands, including Doliprane, Dulcolax, Lysopaïne, and Maalox, is present in 150 countries. It achieved a turnover of 5.2 billion euros in 2023.

Mr. Ferracci describes CD&R as a "serious investment fund that presents positive prospects for the overall development of Opella as well as for the sites established in France".

He also recalls “that a certain number of economic commitments will be required from Sanofi and the future buyer CD&R" aimed at guaranteeing the “maintenance of the headquarters and decision-making centers on national territory" and “Opella's French industrial footprint”.

No questioning of production in France

In his statement, the minister repeats that “the State mobilizes all the tools at its disposal” including the procedure for controlling foreign investments in France.

"This proposed sale does not call into question the production in France of Doliprane or other essential medicines produced by Opella on our territory, nor the supply of these medicines to the market", he assures. "This is naturally part of the commitments requested".

Sanofi has been thinking since the fall of 2023 about how it will separate from this entity. Faced with the American fund, another offer was led by the French fund PAI Partners.

The pharmaceutical group must communicate its quarterly financial results next week.

The CD&R project provides, according to Les Echos, that Sanofi will keep a very significant share of the capital, since'"it could remain invested in about half of its division".