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Sanofi in Talks to Sell Seprafilm Products to Baxter

  • Surgical unit could fetch $350 million to $400 million
  • Sale would allow Sanofi to focus on treatments for cancer

Sanofi is in advanced talks to sell its Seprafilm surgical products unit to U.S. medical supply company Baxter International Inc., according to people with knowledge of the matter.

Seprafilm could be valued at about $350 million to $400 million in a sale, said the people, who asked not to be identified because the matter was private. Sanofi aims to reach an agreement within the next few weeks, the people said.