Sanofi Shares Drop 3.25% Amid Plans to Sell Consumer Healthcare Unit

Gelonghui June 26 | French pharmaceutical giant Sanofi (SNY.US) fell 3.25% to $48.48. On the news front, insiders revealed that Sanofi has initiated a preliminary bidding process for its $20 billion consumer healthcare division. Meanwhile, Sanofi is preparing for a potential IPO of the division. The company has requested potential bidders to submit their first-round offers by mid-July. Buyout firm Advent International and France's PAI Partners are seen as keen buyers, while Blackstone, CD&R, CVC, and TPG are also reportedly interested in bidding.