Sanofi said to be preparing a divestment of animal health unit
French pharma major Sanofi (Euronext: SAN) is reportedly talking to financial advisors with the aim of divesting or listing its animal health subsidiary Merial.
A report by Reuters over the weekend said Sanofi is working with investment bank Lazard on such a disposal, suggesting that the business could be valued at up to 12 billion euros ($12.7 billion).
Earlier this month, Sanofi's new chief executive Olivier Brandicourt unveiled plans to cut costs by 1.5 billion euros by 2018 while seeking bolt-on acquisitions to continue growing its product range (The Pharma Letter November 6).
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