Sanofi 'in talks with potential advisers' over possible Merial sale or listing

Management at pharmaceutical giant Sanofi is reportedly in talks to find an advisor for the sale or listing of its Merial animal health unit.

The French group is believed to have been working closely with investment bank Lazard, which is said to be hoping to take on the lead advisory position, sources familiar to the matter told Reuters.

Lazard has been supporting Sanofi with its ongoing structural review.

Since taking over the helm of the drug manufacturer, new chief Olivier Brandicourt has detailed his plans to slash costs by €1.5bn and indicated he was considering the disposal of some of its business units that have "limited synergies".