Advent International, a United States-based global private equity company, has entered into discussions to acquire Zentiva, Sanofi's European generics business, it is reported today.

The deal is valued at EUR1.9bn and it is likely to be completed by the end of 2018, subject to execution of definitive agreements, followed by approvals from relevant regulatory authorities among other conditions.

Sanofi is looking to sell Zentiva after considering the European generics business to be non-core. The deal is also part of the French drugmaker's strategy to simplify and reshape its overall business. Czech Republic-based Zentiva has a generics portfolio that includes several therapeutic areas like cardiovascular, central nervous system, anti-infectives, anti-inflammatory and pain, and respiratory.