Sanofi to sell interest in consumer health

Sanofi has entered exclusive negotiations to sell a 50% controlling stake in its consumer health business, Opella, to the US private equity firm Clayton, Dubilier & Rice (CD&R). Opella, which houses brands including Allegra, generated sales of $5.7 billion last year. Sanofi estimates the value of the business at $17 billion. The unit is headquartered in France and has over 11,000 employees. Separately, Bpifrance, an investment arm of the French government, will likely take a 2% stake in the business.