Sanofi is in advanced talks to sell its Seprafilm surgical products unit to U.S. medical supply company, Baxter International, according to Bloomberg sources.
Rumor has it Sanofi is looking to reach an agreement within a few weeks, and could fetch as much as $400 million in the sale.
Sanofi acquired the Seprafilm products, which are used to reduce the risk of scarring for abdominal and pelvic surgeries, through its 2011 purchase of Genzyme Corp. Selling the unit will help Sanofi streamline its portfolio and focus on products with more potential for growth, such as cancer treatments.
Read the Bloomberg coverage