Sanofi has decided to move forward with the listing process of EUROAPI and the listing is planned for the first half of 2022. The UKs GlaxoSmithKline combined its consumer healthcare division with Pfizers in 2018. As a result, French Tech Souverainet will become a long-term reference shareholder of EUROAPI and will be represented by two non-executive members on EUROAPI's Board of Directors, including Benjamin Paternot and another member to be determined. Unveiling his strategy after joining the drugmaker from Novartis AG in 2019, Hudson said Sanofi's focus would be on vaccines, research and development and Dupixent a psoriasis medicine that the CEO projects will exceed annual peak sales of 10 billion while exiting traditional areas of expertise like cardiovascular and diabetes research. Sanofi moves forward with EUROAPI listing on Euronext Paris. It is provided for information only. By Mark Terry. If approved, the distribution will take place shortly after the listing of EUROAPI's shares on the regulated market of Euronext Paris, subject to the approval of the French Autorit des Marchs Financiers (AMF) on EUROAPI's French prospectus, which will be made available to the public ahead of Sanofi's Shareholders' Meeting. From a neighborhood or school community to a network with a shared bond of life-changing experiences like a medical diagnosis, being part of a community can foster feelings of connection. The company also stated that a formal process to appoint the Chair and form the Board of the consumer healthcare unit is in progress. In the first quarter, the Specialty Care division grew at a pace of more than 7% YoY, while Vaccines fractionally grew by 0.7%. If you wish to continue to this external website, click Proceed. Elliott has a history of advocating changes in underperforming businesses in the healthcare sector. The New Co. (Consumer Healthcare) will have a portfolio of products with annual sales of ~10 billion in FY20 and is well-positioned for further growth, driven by well known brands, including nine power brands with category leadership and major sales presence in the US and China. About STADA Arzneimittel AG Global Dividends To Hit Fresh Highs In 2023 - Janus Henderson, Lions Gate To Spin-Off Its Studio Business In September 2023, The Show Must Go On: Planning For Succession, Chairman Says Wix To Accelerate To 20% Profitable Growth By 2025, 11 Timeless Lessons From Warren Buffetts Annual Letter Feb 25, 2023. The main risks at this point are just connected with poor execution, but given the quality of the incumbent management, I would not put much credit on it. Darcy Jimenez is a healthcare reporter for Pharmaceutical Technology and Pharma Technology Focus magazine, covering drug research, development, production and regulation. Our ambition is to be the best Consumer Healthcare business in the world, for the world. Just months later, the company penned a deal with fellow pharma leader GlaxoSmithKline (GSK) to combine their two consumer health companies into one joint entity with an estimated 9.8bn in annual sales. The firm demanded that before the planned separation, non-executive directors with extensive biopharmaceuticals and consumer healthcare experience be added to GSKs Board. El 1 de enero de 2022 debut Opella, una nueva entidad legal a nivel global que engloba su negocio de Consumer Healthcare. As previously announced, under the terms of the transaction, Pfizer owns a 32% equity stake in the joint venture and GSK owns 68%. Since the leadership change in 2017, GSK has been sought to align itself as a biopharma company. Global markets live: GM, Pfizer, Exxon, UBS, Boeing EUROAPI Announces Resignation of Corinne Le Goff as an Independent Member on the Board .. Sanofi assumes no responsibility for the information presented on this website. GlaxoSmithKline plc (GSK) today announced that the new company, to result from the proposed demerger of Consumer Healthcare from GSK in mid-2022, will be called Haleon. We believe that empowering individuals, the community, and healthcare professionals to promote and practice self-care will lead to people all over the world being healthier. "Now, they may be some years out, but they are transformational in terms of the performance of consumer business that is already accelerated," the CEO said. /marketintelligence/en/news-insights/latest-news-headlines/sanofi-bucks-industry-trend-by-pledging-to-keep-stand-alone-consumer-unit-68747982 As part of Sanofis ongoing efforts to reduce the complexity of its Consumer Healthcare portfolio and accelerate its growth trajectory, the company has signed an agreement with STADA for the divestiture of 16 Consumer Healthcare products commercialized in Europe. 27 July 2021 - STADA and Sanofi have entered into a distribution agreement whereby STADA will distribute and market Sanofi's . Con un plantel de unos 3.350 empleados, Sanofi espera que el spin-off tenga ventas consolidadas de alrededor de 1.000 millones durante el ao fiscal 2022. Precision medicine has the potential to radically change the way health services are delivered, combining medical expertise with the latest technology to provide bespoke treatments for individual patients. In 2018, Pfizer split itself into three business units after failing to sell off its consumer health segment. * This saved time would otherwise be spent on unnecessary waiting, travel and consultations in primary care or emergency department settings. They are the essential molecules used in the composition and manufacture of any medicine. Sanofi is a diversified global healthcare leader, focused on developing products that meet the health needs of people. The company focuses on a three-pillar strategy consisting of generics, specialty pharma and non-prescription consumer healthcare products. . The French pharmaceutical company will retain a 30% ownership stake in the spinout, dubbed EUROAPI, and plans to distribute 58% of the new business' share capital via a . Sanofi will look to offload around 150 OTC brands as part of a radical overhaul of its Consumer Healthcare operation. Anthony Toguchi is a global transformational leader with +20 years of successful, diverse management experience spanning the financial, consumer package goods, healthcare, office technology, and . However, the French dividend tax for foreign individuals amounts to just 12.8%. Josephine Fubara GSK, its consumer health spin-off Haleon, and Sanofi could be on the hook for billions of dollars in potential damages over Zantac, a gastrointestinal drug pulled from the market in 2020 after it . The leading site for news and procurement in the pharmaceutical industry. We provide potentially life-changing treatment options and life-saving vaccine protection to millions of people globally, while putting sustainability and social responsibility at the center of our ambitions. In connection with the proposed spin-off, French Tech Souverainet has agreed to purchase 12% stake in EUROAPI shares from Sanofi for up to 150 million on March 17, 2022. Any distribution of the Shares may be subject to specific legal or regulatory restrictions in certain jurisdictions. With sales of about $1B per year, the newly formed company can easily be the largest API player in the European Union. While cough is the most common symptom of a cold, people can experience up to five symptoms during the life cycle of a cold. Builds strategic relationships, both internally . Julie Van Ongevalle The approach mirrors Novartis' own move to carve out its Sandoz generics unit which private equity groups like EQT AB (publ), Blackstone Inc. and The Carlyle Group Inc. are reportedly running the slide rule over at a valuation of $25 billion with a decision due by the end of the year. Moreover, the failure to come out with a COVID-19 vaccine despite being one of the largest vaccine producers, may have led to investor disappointment. Post transaction, Sanofi confirms that it will hold circa 30% of the share capital and voting rights of EUROAPI and will remain a long-term strategic partner, supporting EUROAPIs growth ambitions as an independent company over the coming years. However, it looks like that les grandes manoeuvres, aimed at the realization of this project, will proceed at a slow speed. No communication and no information in respect of the dividend distribution of the shares of EUROAPI (the Shares) may be sent to the public in any jurisdiction where a registration or approval is required. Disclosure: I/we have a beneficial long position in the shares of SNYNF either through stock ownership, options, or other derivatives. The integration of core business functions at Sanofi Consumer Healthcare represents the "next level of autonomy" for the business, according to group CFO Jean-Baptiste Chasseloup de Chatillon. Job alerts. By 2026, cash generated from operations for New GSK is expected to exceed 10 billion. GSKs Board believes that the opportunity cost of sacrificing potential growth and value accretion from the consumer healthcare unit is likely to be substantial over the years. Real-time Euronext Paris Please disable your ad-blocker and refresh. Bad Vilbel, Germany. Naturally, there are reasonable excuses for the underperformance, especially for the CHC business, which registered significant sales in the first quarter of last year, as consumers were stocking up on over-the-counter drugs while, at the same time, the anti-Covid measures caused a low incidence of seasonal flu, cold and cough in Q1/2021. Whats Next For Keurig Dr Pepper Stock After A Mixed Q4? J.P. Morgan & Cie S.A.S. Other commercial successes in J&Js pharma portfolio include inflammatory disease therapy Stelara, which reaped $7.7bn in revenue last year; monoclonal antibody Darzalex for the treatment multiple myeloma; lymphoma and chronic graft-versus-host disease drug Imbruvica, developed with AbbVie; and antibody-based plaque psoriasis treatment Tremfya. Post-separation, J&J will focus its attention on the pharmaceutical and medical devices segments, which are expected to generate revenues of around $77bn this year, according to the company. Jones Day (France) acted as legal advisors to Sanofi. Prioritization will become increasingly important going forward, Hudson told reporters. This means that it is very likely for the companys top line to appear stagnant in the quarters to come and, theoretically, that could put some pressure on the stock price. Neither Sanofi nor EUROAPI assumes any responsibility for any violation of any such restrictions by any person. It operates through three business segments Pharmaceuticals, Vaccines and Consumer Healthcare. Rx Sales: USD 49.293 billion. I have developed a broad set . Sanofi CEO's strategy blueprint may include consumer health spinoff or merger: Bloomberg | Fierce Pharma . First peer-reviewed publication of phase III RSV vaccine data in older adults, including those with comorbidities who are most at risk. investor.relations@sanofi.com, France:+ 33 1 53 77 45 45 |U.S.:+ 1 908 981 5560. I have no business relationship with any company whose stock is mentioned in this article. For Isabelle and Garrett's families, connecting to others living with a rare disease offered answers . The transaction will be executed through demerger of at least 80% of GSKs 68% holding in the Consumer Healthcare business to GSK shareholders, subject to shareholder approval. The Consumer Healthcare unit had two major deals in 2018, when GSK acquired Novartis' 36.5% stake in its consumer healthcare joint venture (JV) followed by a merger with Pfizer's consumer healthcare business into a JV. The company operates in three major business segments, Pharmaceuticals, Vaccines and Consumer Healthcare. This acquisition further strengthens STADA as a top-five player in Europes consumer healthcare market, supports our growth acceleration, and is another proof point of STADA as a go-to-partner, commented STADAs CEO, Peter Goldschmidt. That is, again, a quite conservative scenario which doesnt consider any possible catalyst materializing for Sanofis business in the years to come; yet catalysts are abundant for this company, as summarized above. Then there is the funding support available. Radical overhaul of its consumer health segment, specialty Pharma and non-prescription consumer healthcare operation the Board of the healthcare! 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