The news: Sanofi has entered into negotiations with US private equity firm Clayton, Dubilier & Rice (CD&R) for the potential sale of a 50% controlling stake in its consumer health division, Opella.

• Opella’s portfolio includes brands such as Allegra, Icy Hot, and Dulcolax.
• Financial details of the potential deal weren’t disclosed.

Zooming out: If the sale goes through, the drugmaker will join a host of other pharmaceutical companies that have recently reduced their stake in their consumer health businesses.

• Pfizer and GSK formed consumer health spinoff Haleon, maker of Advil and Sensodyne toothpaste, in 2022. In October, Pfizer further lowered its stake in Haleon from 22.6% to 15%.