Home > companies > news > Sanofi held talks with Abbott, Mylan for mature products sale

Geneva: Sanofi has held talks with Mylan Inc., Abbott Laboratories and private-equity firms including Warburg Pincus LLC about a possible sale of its mature products portfolio, according documents circulated by a labour union.

The project to carve out 200 Sanofi mature products with about €2.1 billion (about 17,100 crore) in estimated sales was nicknamed Phoenix in a company presentation dated 6 May, the documents circulated by a representative of the CGT union showed.

No decision has been made yet on the product portfolio, Jack Cox, a spokesman for Sanofi in Paris, said on Wednesday.

Mylan this week said it was buying Abbott Laboratories’ generic-drug business in established markets like Europe and forming a new company that would be incorporated in the Netherlands, cutting its taxes. Bloomberg

With assistance from Simeon Bennett in Geneva.

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