May 5, 2017 / 11:30 AM / 5 months ago

Sanofi decides against selling chemical unit Cepia: spokeswoman

FILE PHOTO - A logo is seen in front of the entrance at the headquarters French drugmaker Sanofi in Paris October 30, 2014. REUTERS/Christian Hartmann/File Photo

PARIS (Reuters) - Sanofi (SASY.PA) has given up on the possibility of selling its chemical unit Cepia, a spokeswoman with the French drugmaker said on Friday.

“I can confirm we have decided to keep the division within the company,” she said, adding that a recent improvement in Cepia’s results, as well as a better outlook for it, was behind this choice.

The sale of Cepia, which deals with what Sanofi calls ‘third party activities’ such as the supply and production of active pharmaceutical ingredients, was seen fetching up to 1 billion euros ($1.10 billion), banking sources told Reuters last month.

Reporting by Matthias Blamont; Editing by Sudip Kar-Gupta

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