French pharmaceutical group Sanofi announced this Wednesday the completion of the sale of 50% of its subsidiary Opella, owner of Doliprane, to American fund CD&R, in a message published just before its general meeting of shareholders, AFP reports.
“Sanofi received a total net cash proceeds of approximately €10 billion” as a result of the transaction, according to a statement from the pharmaceutical giant.
According to the report by AFP, Sanofi retains a 48.2% stake in Opella, which markets over-the-counter treatments, and the public investment bank Bpifrance will hold a 1.8% stake, the press release said.
“This new chapter marks the beginning of a promising adventure” for Opella, which “is ready to grow and prosper,” said Sanofi CEO Paul Hudson, quoted in the press release.
In October 2024, in line with its strategy of focusing on innovative medicines and vaccines, Sanofi announced that it was entering into exclusive negotiations to cede control of Opella.
The sale of Opella, which sells over-the-counter treatments, had caused controversy in the context of ongoing restructuring of certain Sanofi activities.
The most prescribed drug
On the ground, the subsidiary’s employees went on strike for several days.
Wanting guarantees on the future of Opella’s French sites, without scaring off foreign investors, the government saw the public bank’s participation as a way of gaining a say in the strategic directions taken by the new foreign shareholder.
According to a November report by the French Health Insurance, Doliprane, a paracetamol-based product and one of the most common painkillers, remains by far the most prescribed medication in France , with 300 million boxes sold, according to data from mid-2024. No other treatment exceeds the 100 million mark.
Opella, which operates in 100 countries, operates 13 production sites and employs 11,000 people. Its product portfolio has been reduced to around 100 brands by the end of 2024.