After earlier denials, Total SA execs now say they plan to sell their 13 percent stake in Sanofi-Aventis, which is worth about $16 billion, ‘probably in the short term.’ The decision adds more uncertainty to the drugmaker’s outlook at a time when two key meds face threats.

Total will be selling the stake “in the short term,” ceo Christophe de Margerie told shareholders at the company’s annual meeting today. The comments mark a change of tone for the French oil company, which until February had repeated that it was in no hurry to shed its holdings.

Sanofi, the world’s third-largest drugmaker, is struggling with a declining share price as the Plavix blood-thinner faces a court battle and its most promising new drug, the diet pill Acomplia, has been delayed three times by the FDA.

Full story in Bloomberg News.[tags]Sanofi-Aventis, Total[/tags]