Green light for a sale of Doliprane to an American fund
The best-selling drug in France, Doliprane, will be sold by the pharmaceutical group Sanofi to an American investment fund.
Doliprane is the best-selling drug in France.
AFP
An agreement has been reached between the French state, the pharmaceutical group Sanofi and the American investment fund CD&R on the latter’s acquisition of the subsidiary that markets Doliprane, the best-selling drug in France, the French Ministry of Health announced on Sunday Economy.
French Economy Minister Antoine Armand assured
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“Our demands for employment, production and investment will be respected. For Doliprane and other important medicines for the country,” he added. “We have reached the highest possible level of guarantees in the discussions” with Sanofi on this issue, specified the offices of the ministers of economy and industry. The French state, via the Bpifrance bank, ” will be a shareholder to ensure this”, they clarified.
Sensitive file
The issue remains sensitive in a context of recurring shortages of medicine in the country. The state has thus obtained “guarantees” for employment, production, supply of the French market, management and development of the company, underline these sources, who will detail these commitments on Monday morning during a press conference.
Sanofi, in discussions about a possible sale of Opella to the CD&R fund since October 11, also announced a separate announcement on Monday morning. The pharmaceutical giant is thus taking a new step in this separation project, which aims to focus on innovation in immunology, rare diseases and vaccines, more profitable areas, but where it needs to invest.
He plans to remain a 50% shareholder in Opella’s next capital structure, which is valued by business media at around 15 billion euros (14 billion francs). The French investment fund PAI Partners, in partnership with international co-investors, was a candidate for the acquisition and on Thursday had unsuccessfully improved its offer.
Inspection right
CD&R has invested in France for about fifteen years (notably in Rexel, Spie, Socotec, But and Conformama) and supports several pharmaceutical companies such as Inizio and Sharp.
The participation of the public investment bank Bpifrance in the operation registered on Sunday evening is a means for the government to obtain a right of review over the strategic guidelines taken by the new foreign shareholder.
The pharmaceutical group has ensured since day one that “this project will have no impact on employment in France” and that it aims to grow Opella by relying on a financial partner ready to invest in this market, that is closer to mass consumption than to pharmaceutical activity.
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