French Sanofi puts Zentiva generic drugs division in Romania up for sale

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Sanofi made public, within the official communication on Q3 of 2016 results, the decision to initiate a separation process in order to sell its generics business in Europe, which includes Zentiva, generic drugs factory controlled by the French group on the local market.

“As announced in our 2020 strategic roadmap, Sanofi has carefully reviewed all options and has decided to initiate a carve-out process in order to divest its Generics business in Europe. Sanofi will be looking for a potential acquirer that will leverage the mid and long-term sustainable growth opportunities for this business. Sanofi confirms its commitment to its Generics business in other parts of the world and will further focus on the Emerging Markets in order to develop its business in those countries,” a press release signed by Emmanuelle Valentin-Fouchs, President of Zentiva Board of Directors, reads.

Sanofi ranks 2nd on the Romanian pharma market with a market share of 6.8 percent in the July 2015-August 2016 period, according to the latest report of Cegedim market research company.

At this mid-year, in the context of an increase of almost 9 percent in turnover, Zentiva Romania increased its net profit by over 80 percent.

The turnover climbed in the first half of this year to RON 193.47 million from RON 177.71 million year-on-year. In this context, operating profit increased by 68.03 percent to RON 40.58 million from RON 24.15 million.

At end-June, Zentiva Romania had total assets of RON 391.66 million, 1.20 percent higher than those recorded on December 31, 2015. During the same period, total debt rose by 10.74 percent to RON 126.52 million from RON 114.25 million.

According to the latest reports, the French pharmaceutical group Sanofi-Aventis holds directly and indirectly 81.6 percent of Zentiva shares.

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