Sanofi, a leading pharmaceutical company, has revealed its intention to divide its consumer-healthcare and pharmaceutical operations, following a growing trend among major drugmakers. The strategic update also includes increased investment in its pipeline and a cost-savings program.
The French company is currently exploring various separation options, with a capital markets transaction being the most likely path. It plans to create a listed entity based in France, and if all goes as planned, the split could occur as early as the fourth quarter of 2024.
This move will allow Sanofi to sharpen its focus on developing innovative medicines and vaccines. By creating two separate entities, each will have the freedom to pursue its own strategy in their respective markets.
Previously, Sanofi housed its innovative drugs and consumer-healthcare operations together, but now it joins other pharma giants, such as Johnson & Johnson, GSK, Novartis, and Pfizer, who have all made similar moves in recent years.
Sanofi’s consumer-healthcare business operates in 150 countries and employs over 11,000 people. The plan is subject to market conditions and consultation with social partners.
Stay tuned for further updates on Sanofi’s strategic initiatives.
