Press Release: Sanofi and CD&R partner to fuel Opella's ambitions in consumer healthcare

Core Viewpoint - Sanofi and CD&R are entering exclusive negotiations for the potential sale of a 50% controlling stake in Opella, aiming to enhance Opella's position as a global leader in consumer healthcare while allowing Sanofi to focus on innovative biopharmaceuticals [1][3]. Company Overview - Opella, headquartered in France, employs over 11,000 people and operates in 100 countries with 13 manufacturing sites and four R&D centers. It is the third-largest player in the OTC and VMS market, serving over 500 million consumers globally [2]. - The company has a portfolio of well-known brands, including Allegra, Doliprane, and Dulcolax, and is positioned in a fast-growing industry driven by trends such as an aging population and increased health awareness [2]. Transaction Details - The enterprise value of Opella is approximately €16 billion, equating to about 14 times the estimated EBITDA for 2024. The transaction is binding and fully financed by CD&R [3]. - Sanofi will retain a significant minority stake in Opella, allowing it to benefit from future value creation [3]. - The transaction is expected to close in Q2 2025, subject to final agreements and regulatory approvals [3]. Strategic Implications - The partnership with CD&R is expected to leverage their expertise and resources to enhance Opella's market leadership and accelerate growth [4][6]. - Sanofi's focus will shift towards delivering innovative medicines and vaccines, while still supporting Opella's growth as an independent entity [5][6]. Financial Guidance - Sanofi has upgraded its 2024 business EPS guidance, now expecting low single-digit percentage growth at constant exchange rates, excluding Opella from its consolidated results [8]. - The anticipated cash payment from the transaction will align with Sanofi's capital allocation priorities, including shareholder returns and potential external growth opportunities [9].