December 2, 2019 / 12:19 PM / 12 days ago

REFILE-Sanofi agrees to sell Seprafilm to Baxter for $350 mln - source

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PARIS, Dec 2 (Reuters) - France’s Sanofi has agreed to sell its Seprafilm unit, which makes specialist surgical products, to U.S.-based Baxter for $350 million, a source familiar with the matter said on Monday.

The French pharmaceutical group 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 Dec. 10.

Sanofi took on Seprafilm, which is used to help manage bleeding in abdominal and pelvis operations, in 2011 as part of its purchase of Genzyme.

Baxter officials were not immediately available to comment. A spokesman for Sanofi declined to comment. (Reporting by Matthias Blamont; Writing by Sarah White; Editing by Richard Lough)

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