The Paris, France-based drugmaker’s shares rose by 2.9 percent in Paris Nov. 22 following the news, making it the biggest intraday gain for the drugmaker in four months.
A deal is not certain, but Sanofi CEO Paul Hudson will give a strategy update Dec. 10, according to Bloomberg.
Sanofi’s consumer health unit generated more than $5 billion in revenue last year. Selling the unit would send a positive signal about Sanofi’s ability to create new prescription drugs, Daniel Mahony, PhD, a healthcare fund manager told Bloomberg.
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