Sanofi (NYSE: SNY) is reportedly inviting bids starting at USD 20 billion for its consumer healthcare division, according to a Bloomberg report citing people familiar with the matter. The French pharmaceutical giant is anticipating initial bids by mid-July. Among the parties showing the most interest are Advent International, a U.S. private equity firm, and PAI Partners, a French private equity firm already involved in consumer health products. Other private equity firms rumored to be considering bids include Blackstone Inc., Clayton Dubilier & Rice, CVC Capital Partners Plc, and TPG Inc.
In October 2023, Sanofi’s CEO Paul Hudson initially announced plans to spin off the consumer healthcare business into a separate, publicly listed entity, as part of a significant cost reduction initiative. It is expected that Sanofi will retain a substantial minority stake in the new company.- Flcube.com
