Sanofi Gives Up On Selling Its $1 Billion Chemical Biz Cepia
Sanofi has given up on the possibility of selling its chemical unit Cepia, a spokeswoman with the French drugmaker said on Friday.
"I can confirm we have decided to keep the division within the company," she said, adding that a recent improvement in Cepia's results, as well as a better outlook for it, was behind this choice.
The sale of Cepia, which deals with what Sanofi calls 'third party activities' such as the supply and production of active pharmaceutical ingredients, was seen fetching up to 1 billion euros ($1.10 billion), banking sources told Reuters last month.
"I can confirm we have decided to keep the division within the company," she said, adding that a recent improvement in Cepia's results, as well as a better outlook for it, was behind this choice.
The sale of Cepia, which deals with what Sanofi calls 'third party activities' such as the supply and production of active pharmaceutical ingredients, was seen fetching up to 1 billion euros ($1.10 billion), banking sources told Reuters last month.