Medical supply company Baxter International has agreed to buy Sanofi’s Seprafilm unit, which makes specialist surgical products, for US$350m (£272.80m) in cash. The deal should close by the end of the first quarter of 2020.
France’s Sanofi is conducting a broad strategy review under new chief executive Paul Hudson, who will give some initial pointers on which businesses he wants to focus on at an investor day on 10 December.
A spokesman with Sanofi says: “As part of our ongoing strategic transformation, we are refocusing our established products portfolio to allow for focus on key growth platforms.”
The company took on Seprafilm, which is used to help manage bleeding in abdominal and pelvis operations, in 2011 as part of its purchase of Genzyme.