NEW YORK (TheStreet) -- Shares of Sanofi (SNY) are up 1.24% to $53.99 after it was reported that the healthcare company is looking to sell a portfolio of older drugs that could be worth $7 billion to $8 billion, sources say, Reuters reports.
The company was said to have hired financial advisers Evercore Partners Inc. (EVR) to help it with a deal and has contacted potential buyers in the past few months, sources added.
The drugs for sale include treatments for high blood pressure and cardio-metabolic diseases.
TheStreet Ratings team rates SANOFI as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate SANOFI (SNY) a BUY. This is driven by a number of strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, increase in net income, expanding profit margins and growth in earnings per share. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself."
Highlights from the analysis by TheStreet Ratings Team goes as follows: