- Reuters reports that the French pharmaceutical firm (SNY) is working with Evercore partners to find a buyer for a portfolio of mature drugs that include treatments for high blood pressure and cardio-metabolic diseases.
- The businesses, which generate ~$3.7B in annual sales, should fetch between $7B and $8B.
- Generic firms or specialty pharma companies are likely acquirers.
- Sanofi's initiative is consistent with other members of big pharma who want to shed smaller, less profitable and/or non-core businesses in order to focus on their principal growth drivers.
- (JNJ) (MRK) (PFE) (GSK) (LLY) (NVS) (AZN)