Elf attempts to sell Sanofi
15 Jan 2000
French oil-to-chemicals company Elf Acquitaine is seeking to sell off its 53 per cent stake in the pharmaceuticals business, Sanofi. France's second-biggest drugs producer after Rhone-Poulenc, Sanofi is roughly the same size as the UK's Zeneca. Elf believes it should `move nearer other pharmaceutical laboratories, through a merger, in order to speed up development and increase profitability.'
