(Reuters) - Sanofi has held
talks with Abbott Laboratories, Mylan and private equity firms over the possible
sale of a 6.3 billion euro (5 billion pounds) portfolio of mature drugs,
according to an internal document seen by Reuters.
The 25-page document, a copy
of which was circulated by the CGT union on Wednesday, details a plan presented
to the company's investment committee on May 6 dubbed the "Phoenix
project".
It shows Sanofi is considering
whether to sell, carve out or create a joint venture for a portfolio of some
200 mature drugs that includes blood thinner Plavix, anti-epileptic Depakine
and antibiotic Pyostacine.
The portfolio currently
accounts for annual sales of about 2.1 billion euros but these are projected to
drop by two-fifths in the next decade as European countries tighten healthcare
budgets and impose lower drug prices.