Sanofi sells Zentiva for €1.9 billionApril 17, 2018
Sanofi has gotten an offer from Advent International, a global investor in healthcare sector, for purchase of Zentiva, Sanofi’s European generics business for €1,9 billion.
Advent will support the Zentiva management team to invest in the company’s operations, production facilities and R&D pipeline. The transaction is expected to close by the end of 2018.
“Zentiva is a robust business with a highly talented workforce and we believe it has demonstrated its potential for growth. 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,” said Olivier Brandicourt, Chief Executive Officer, Sanofi.
“We have long been attracted to the generic pharmaceutical sector as it enables more people to access high quality treatments by lowering their cost. We believe that Zentiva is a great platform, full of talented people, who we can invest behind to build a new, independent, European generics leader” said in a join comment Tom Allen, Managing Director and co-head of Advent International’s European Healthcare team and Cédric Chateau, Managing Director and head of Advent International in France.