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The Minister of Industry, Roland Lescure, is not losing his temper. The prospect of a possible sale by Servier of the French generic medicines giant Biogaran to a foreign group still “irritates” him. “You don’t sell a company like that,” he said on the Sud Radio set this Friday morning.
As the Minister Delegate recalled, Biogaran is a French giant of generic medicines, these treatments which have fallen into the public domain and whose manufacturing is not reserved for the patent owner. “One in three generics sold in pharmacies” is marketed under the Biogaran label, recalled Roland Lescure. If the laboratory does not manufacture its drugs itself, it subcontracts “around forty French companies”, which employ more than 8,000 employees.... Hence the shock wave caused by the announcement of a possible sale to a foreign buyer.
The owner of Biogaran, the Servier group, has put the company up for sale several months ago and at least two Indian buyers are already in the running. Questioned Thursday by AFP, Servier assured that “no decision” had been taken, while recalling its attention to “maximizing the potential” of its activities.
The day after the announcement, Roland Lescure was very firm. “I clearly told the Servier laboratory that I did not want them to sell Biogaran,” he declared on RMC. Since then, the delegate minister of Bruno Le Maire seems to have put a little water in his wine. “We can have international investors who invest in France but it is important that this comes with conditions: deliver to France and produce in France. We are going to put drastic conditions for this sale, so that the buyers continue to deliver to France and produce in France,” he declared this Friday morning.
On April 19, Mr. Industry of the executive said he was “ready to receive potential buyers” to discuss the conditions of this possible transaction. This Friday, Roland Lescure indicated that the main interested parties have not yet followed up on his exchange proposal. If the discussions were to get worse, the minister does not rule out acting “drastically”, drawing, if necessary, his joker: the IEF. This procedural weapon, the basis of which Le Figaro has detailed, could impose “necessary and proportionate conditions” in the context of the transaction.
