Doliprane fixed on its fate: a “tripartite agreement” was found between the State, Sanofi and the American investment fund CD&R in the proposed sale of the subsidiary of the pharmaceutical group Opella, which markets Doliprane, the State ensuring that it has obtained guarantees, particularly regarding employment.
“We have reached the highest possible level of guarantees” in the discussions between Sanofi and the American buyer, specified the offices of the Ministers of Economy and Industry, while “the State, via Bpifrance, will be a shareholder to watch over it.”
“This is the most effective solution that has been put on the table”, estimated these ministerial sources, the executive having been very vigilant on this sensitive issue, in a context of recurring shortages of certain drugs.
The State has thus obtained “guarantees” on employment, production, supply of the French market, governance and development of the company, underline these sources who will detail these commitments Monday morning during a conference press.
Sanofi, in discussions on a possible sale of Opella to the CD&R fund since October 11, also announced a separate communication Monday morning.
The pharmaceutical giant is thus taking a new step in this separation project aimed at allowing it to focus on innovation in immunology, rare diseases and vaccines, more profitable areas, but where it will need to invest.
However, he plans to remain a 50% shareholder in Opella’s next capital structure, valued by business media at around 15 billion euros.
The French investment fund PAI Partners, in partnership with international co-investors, may have tried its luck again on Thursday by improving its offer, but the ball therefore remains in the American court despite the reluctance that this sensitive project may have generated in recent years. recent weeks.
Sanofi announced on October 11 that it was negotiating with CD&R, a large American fund which has been investing in France for around fifteen years (notably in Rexel, Spie, Socotec, But and Conformama) and present in several pharmaceutical companies such as Inizio and Sharp.
Desired by Bercy, the participation of the public investment bank Bpifrance in the operation was recorded in this agreement: the public actor will take a stake in Opella, which houses other French brands such as Dulcolax, Lysopaïne, Maalox or Novanuit.
A way for the government to obtain a say in the strategic orientations of the company thanks to the presence of the State on the board of directors of Opella.
– “Promises” –
In 2021, Bpifrance entered the capital of Seqens, a French manufacturer of active pharmaceutical ingredients and emblem of the relocation of paracetamol production in France, from which Opella is committed to sourcing, just like the competitor Upsa (Dafalgan and Efferalgan).
The prospect of the arrival of a new foreign shareholder goes down badly with the group’s unions, on a renewable strike since Thursday to oppose the project, but also with public opinion attached to the tricolor brand Doliprane, sold at 97 % In France.
The unions fear a “social breakdown” in the 1,700 jobs that Opella has on French soil, including 480 on its site in Compiègne (Oise) and 250 in its factory in Lisieux (Calvados), dedicated to this best-selling drug in France .
As Sanofi approached the end of its final selection process, calls to block the sale became more insistent over the last few days.
However, the pharmaceutical group has assured since day one that “this project will have no impact on employment in France” and that it aims to grow Opella by relying on a financial partner ready to invest in this market closer to mass consumption than to pharmaceutical activity.
“Sanofi can make promises, once it is no longer a decision-maker, what will happen?”, asked Humberto de Sousa, CFDT Sanofi unionist, recently.
Also present in the vitamins, food supplements and sports nutrition segment, Opella has drastically reduced its brand portfolio over the last four years to only maintain around a hundred worldwide.
This company, which has 11,000 employees in around 100 countries, owes around 80% of its growth (6%) to only around fifteen of these brands.
Another issue with high health issues was at the heart of political debates earlier this year: the executive stepped up to warn against a possible sale of the generic manufacturer Biogaran by its parent company Servier. She ended up throwing in the towel in September.
