According to a report from Bloomberg Tuesday, some of the largest buyout firms in the world, such as Advent International and Blackstone Group Inc., are interested in Sanofi 's (NASDAQ:SNY) consumer health division.
Sanofi's Nasdaq-listed shares are up more than 2% Tuesday.
In October, the French pharmaceutical giant revealed it plans to separate the division. It sells over-the-counter products, including Phytoxil cough syrups and Icy Hot pain relief gels.
The business is also said to be attracting interest from Bain Capital, CVC Capital Partners, EQT AB and KKR & Co., according to Bloomberg, citing people familiar with the matter. They added that the division could be valued at about $20 billion in any deal.
If Sanofi can sell the unit for its desired valuation, Bloomberg said the drugmaker has communicated it’s open to a sale.
However, they also note that Sanofi may retain a stake in the business as part of any agreement. However, it is currently in the early stages, with their being no guarantee of formal proposals by the private equity firms.