French pharma group Sanofi plans to sell its generic drug division in Europe. This will also affect the local plant Zentiva owned by the group in Bucharest, reports local Ziarul Financiar.

Zentiva Romania has been part of Sanofi since March 2009 and is listed on the Bucharest Stock Exchange.

After presenting its quarterly results, Sanofi has also announced a plan to transfer its division of generic drugs in Europe, which employs about 3,000 people. Olivier Brandicourt, the general director of Sanofi, said that despite being “solid and profitable operations”, the company needs to focus on other market segments where it’s not so well positioned, in order to continue gaining a market share.

Zentiva Romania had a turnover of about EUR 43 million at in the first six months of this year, up from EUR 39.4 million in the same period of 2015. The net profit rose by over 80% year-on-year to EUR 7.2 million.

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