On Wednesday, Sanofi’s CEO told Reuters that the pharmaceuticals firm is looking to boost its foothold in Africa through acquisitions. The company sees Africa as a “strategic continent” and had been expecting to see growth in its key business arms including consumer and animal health products.

Chris Viehbacher did not confirm if the company would acquire units from Merck & Co. or from the animal health arm of Novartis. He said, "We can never comment on targets. Clearly, we have growth platforms such as animal health and consumer health care - if we can strengthen those while creating value for our shareholders we will do that."

Merck has been looking to divest its healthcare unit, manufacturing Claritin, Dr. Scholl’s foot care and Coppertone sunscreen. Bankers see Sanofi a prospect to bid including Bayer and Reckitt Benkiser.

Meanwhile, Sanofi has been looking to get back on “growth platforms” following the aftermaths of patent losses on its major drug products.