Sanofi Workers Strike Over Consumer Health Unit Sale Amid Job Loss and Strategic Asset Concerns

Strike Action:
French unions CGT and CFDT have called for a strike starting on Thursday to protest the planned sale of Sanofi's consumer health arm, valued at approximately $16 billion.

Sale Details:
Sanofi is in talks to sell a 50% stake in its consumer health business Opella to U.S. private equity firm Clayton Dubilier & Rice.

Political Concerns:
The deal has become a political issue due to concerns over potential job losses and the ceding of control over strategic assets, including the production of the popular painkiller Doliprane.

Government Involvement:
The French government has stated that it will need guarantees that Doliprane production will remain in France for the sale to proceed, with Economy Minister Antoine Armand suggesting the government could even take a stake in the unit.

Sanofi's Assurance:
Sanofi has promised that the future of its sites and employees in France will be guaranteed, stating that retaining 50% of the capital ensures these activities will be anchored in France long-term.

Market Impact:
Regulatory concerns over the sale have negatively affected Sanofi's shares, with the company under pressure to communicate a clear plan when it reports third-quarter earnings.