In addition to the previously proposed 3.33 cash dividend per Sanofi share, this additional extraordinary dividend, exclusively in kind, is subject to shareholders approval The company operates across 96 countries and employs more than 94,000 people globally with 36,000 suppliers. The listing will also help GSK increase its focus on its drug pipeline. 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Physical and Mental Wellness. Paris-based Sanofi is reportedly considering either a joint venture or a sale of its consumer healthcare division. Sanofi S.A. is a French multinational pharmaceutical and healthcare company headquartered in Paris, France.Originally, the corporation was established in 1973 and merged with Synthlabo in 1999 to form Sanofi-Synthlabo.In 2004, Sanofi-Synthlabo merged with Aventis and renamed to Sanofi-Aventis, which were each the product of several previous mergers. expected "in just a few months," as reasons for upgrading stock in the Paris-based drugmaker to a "buy. Is this happening to you frequently? Sanofi assumes no responsibility for the information presented on this website. Sanofi is a diversified global healthcare leader, focused on developing products that meet the health needs of people. Jones Day (France) acted as legal advisors to Sanofi. Private part time value investor. Moreover, the remaining 20% stake in the spun-off unit post deal completion offers GSK with the opportunity to benefit from strong performance at the spun-off unit. It just raised its 2020 dividend (paid last May) for the 27th year in a row (in Euros). Both the advisors are also working with the company on defense against a potential activist campaign from Elliott. It is provided for information only. Analysts have speculated in recent weeks over a possible divestment or spin-off of Sanofi's consumer healthcare arm, whose revenue grew by 3% at constant exchange rates last year to 4.7 billion . The Board of Sanofi (ENXTPA:SAN) completed the spin-off 58% stake in EuroAPI on May 6, 2022. Design I wrote this article myself, and it expresses my own opinions. Despite volatile market conditions, Sanofi has decided to move forward with the listing process of EUROAPI. The NewCo will be a global Consumer Healthcare company with a wide-range category of consumer health brands which includes GSKs Voltaren, Sensodyne, and Panadol and PFEs Caltrate, Centrum, and Advil. <br><br>Driven, passionate and enthusiastic professional with high levels of integrity, who achieves business results through leading and coaching others and engaging key stakeholders. Partnered with business leaders to facilitate the Retired after 24+ year career with J&J. In the first quarter, the Specialty Care division grew at a pace of more than 7% YoY, while Vaccines fractionally grew by 0.7%. According to news reports, in April 2021, activist investment firm Elliott Management Corp. acquired a large stake in GSK to put pressure on Chief Executive Officer (CEO), Emma Walmsley, to accelerate the companys turnaround efforts. Sanofi exchanged its Merial animal drugs business with Boehringers over-the-counter (OTC) drugs businessbasically, Sanofi picked up Boehringers consumer health business. Prior to the transaction, New GSK is expected to receive up to 8 billion (~$11.0 billion) from the Consumer Healthcare unit. We are an innovative global healthcare company, driven by one purpose: we chase the miracles of science to improve peoples lives. The company expects to announce a strategic plan in December. Final note: I am long Sanofi directly through its shares listed in Europe. GSK's consumer health spinoff Haleon will make its big debut in just over a week but with some serious debt in tow, according to the company. Compared to its peers, the French company appears to be inexpensive. The earnings report showed what GSK called "strong sales" in its biopharma and consumer healthcare operations, to the tune of 7.1 billion British pounds (about $8.9 billion) and 2.6 billion . Please. Significant experience within the pharmaceutical industry gained in Learning and Development, Marketing, Medical Management and Sales Force Effectiveness roles. 75017 Paris FRANCE Forward-looking statements are statements that are not historical facts. Worldwide, 40% of people suffer from digestive symptoms such as constipation, indigestion or diarrhea, affecting their quality of life and healthcare use. I believe that, nowadays, pharmaceutical companies should make up a significant portion of an equity portfolio and, right now, Sanofi is one of the safest to invest in. Sanofi. The patent stays until 2035 to 2039 (oral form). Sandrine Guendoul|+ 33 6 25 09 14 25 |sandrine.guendoul@sanofi.com J&J CEO Alex Gorsky said in a statement that the planned split would allow J&J to deliver new solutions for patients through biopharmaceutical and medical device innovation and technology, and provide the new consumer health company with the agility and flexibility to grow its iconic portfolio of brands and innovate new products. 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. The companys consumer health unit is worth about $30 billion and one of the companys options is an initial public offering (IPO). Haleon emerges from GSK consumer healthcare spin-off. Self-care relieves a burden on healthcare providers, saving 1.8 billion hours of physicians time globally. Credit Suisse London Health Care Conference In 1Q 2021, the company announced that 59 vaccines and medicines were in the pipeline, focusing mainly on infectious diseases, oncology and immune-mediated diseases. The financial leverage is quite low too, which is a positive sign for the strength of the balance sheet and it could boost Sanofis M&A activity in the years to come, which is always an important option for big pharma companies. With a diversified technology portfolio, EUROAPI is positioned as the world's leading manufacturer of small molecule API (including complex chemical synthesis molecules, biochemical molecules from fermentation and highly potent molecules). Our mission is to Serve Healthier, Fuller Lives by offering moments of relief to our Patients & Consumers in our key platforms, including Allergy, Physical & Mental Wellness, Pain . In October, J&J sparked controversy by using a bankruptcy manoeuvre to avoid paying out for the tens of thousands of claims made against it. The leading site for news and procurement in the pharmaceutical industry. When Sanofi unveiled plans to spin off its European active pharmaceutical ingredient (API) unit back in early . Real-time Euronext Paris Many have decided either to sell off the divisions in whole or in part - including Novartis, Merck KGaA, Bristol-Myers Squibb and Bayer for example - while GlaxoSmithKline and Pfizer both slimmed down their range before combining . Our team, across some 100 countries, is dedicated to transforming the practice of medicine by working to turn the impossible into the possible. Get Your 7-Day Free Trial! esgSubNav, Discover more about S&P Globals offerings. Today marks a major milestone for EUROAPI, a leading European company dedicated to the development, production and marketing of active pharmaceutical ingredients* (API), as Sanofis Board of Directors unanimously proposed, on March 17th, to submit to its shareholders the distribution of circa 58% of the share capital of EUROAPI. "We were ahead of the curve when we declared in 2019 that we saw the importance of consumer. "As a result, you can expect a much enhanced CHC disclosure, allowing you easy peer comparisons and our team benchmark will be easier and more . Arguably the most well-known J&J product is its Covid-19 vaccine offering; the companys one-shot jab is the only single-dose coronavirus vaccine on the market, and is sold on a not-for-profit basis. Please contact the Global Headquarters in France . Worldwide, STADA Arzneimittel AG sells its products in approximately 120 countries. Is the microbiome therapy hype up for a reckoning? Sanofi said on Tuesday it hopes to take over the consumer health care unit of German peer Boehringer Ingelheim via an asset swap, making the French pharmaceutical giant the sector's world leader. 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. "It's very significant, we are really reallocating our cost base towards innovation on science," the CFO said. Post separation, New GSK will focus across four core therapeutic areas (TAs): Infectious Diseases, HIV, Oncology and Immunology/Respiratory. Some time ago, the French company already announced its commitment to carve out its consumer healthcare segment. 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. We are committed to providing world-class products and services that help manage energy, stress, sleep and anxiety. Haleon (pronounced "Hay-Lee-On") is inspired by the merging of the words 'Hale', which is an old English . Executive Vice President, Consumer Healthcare, on International Self-Care Day 2022, Self-care activities generate $119 billion in monetary and healthcare workforce savings globally.1, Self-care relieves a burden on healthcare providers, saving 1.8 billion hours of physicians time globally.1, Globally, self-care saves people around 11 billion hours.1*. 12% in EUROAPI shares from Sanofi for up to 150 million, with the acquisition price to be determined based upon the thirty day volume weighted average trading price (VWAP) of EUROAPIs shares on Euronext Paris, starting on the first day of trading. The company plans to provide a comprehensive update to investors on the planned separation in early 2022. All in all, even though the stagnant divisions are at the moment predominant, that story is changing. Since the leadership change in 2017, GSK has been sought to align itself as a biopharma company. The move has been in the works for several months. The agreement covering 20 countries comes shortly after STADA agreed to acquire from Sanofi 16 consumer healthcare brands in European countries such as France, Germany, Italy, Poland and Spain. > Add the event to my calendar, An in-depth look at our vaccines business, strategy and roadmap through to 2025/2030, We chase the miracles of science to improve peoples lives and to transform the practice of medicine, Please contact the Global Headquarters in France : 2021 position: 2. 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. However, net sales took a dive in Q1, declining by roughly 4.6% YoY (reported). Sanofi's fourth quarter saw consumer health sales rise 5.6%, driven . Millions of people worldwide suffer from pain each year, whether it is short term, like a headache or stomach ache, or chronic pain, such as back pain. Sanofi is lining up to spin off its active pharmaceutical ingredients division that will include a listing as a public company, Reuters reported, citing unnamed sources.. Through this transaction, Sanofi is giving its shareholders the opportunity to take part in the success of a leading player in the API market with strong ambitions to become a global champion on a growing and dynamic market, and due to be listed on the regulated market of Euronext Paris. Paul Hudson, Sanofis chief executive officer, who took over the reins of the company on September 1, is expected to meet with investors in Cambridge, Massachusetts on December 10. Our high-quality products are available in more than 5,780 pharmacies. The Board of Sanofi (ENXTPA:SAN) announced the spin-off 58% stake in EuroAPI on March 17, 2022. She is particularly interested in stories about AI, antibiotic resistance, and global health equality. Welcome to Sanofi Consumer Healthcare. On June 23, 2021, GlaxoSmithKline plc (NYSE: GSK, $40.45, Market Cap: $101.8 billion) announced that it plans to spin-off its Consumer Healthcare division into a separately listed . "If the GlaxoSmithKline Consumer Health spinoff goes well, we believe it is likely that Sanofi could spin off its consumer health business as well, which is a reasonable extension of the internal separation that is ongoing," HSBC analyst Steve McGarry said in a Nov. 1 note. At the time, Hudson stated, Since joining Sanofi only two months ago, I am increasingly excited about the strength of our businesses, our ability to develop transformative medicines and the diverse talent of our teams across the organization. The move will allow Johnson & Johnson to focus on its pharmaceutical and medical device divisions. -. Any distribution of the Shares may be subject to specific legal or regulatory restrictions in certain jurisdictions. Merck sold its consumer business to Bayer AG in 2014 for $14.2 billion. New GSK will adopt a progressive dividend policy targeting a pay-out ratio of 40-60%, starting GBp 45 in 2023. The company operates in three major business segments, Pharmaceuticals, Vaccines and Consumer Healthcare. GlaxoSmithKline and Pfizer plan to spin off their joint consumer health business next year, and German drugmaker Merck KGaA sold its consumer health division to Procter & Gamble Co in 2018. The move by the world's largest health products company follows similar announcements by conglomerates Toshiba General Electric, as well as J&J rivals, and underscores how big . Sanofi . Cowen's 43rd Annual Health Care Conference With Bill Sibold, EVP, Specialty Care & Frank Nestle, Global Head of Research, Chief Scientific Officer > Add the event to my calendar Hudson highlighted the potential of switches of medicines from prescription to over-the-counter sales, with erectile dysfunction pill Cialis and flu medicine Tamiflu on the horizon. There are certain watershed moments in every person's life that propel them to find a community. We have extensive lines of prescription medicines and . a historic slump in over-the-counter sales for cough and cold medicines across the industry in 2020 as a result of social distancing and other pandemic-related regulations. Total Pharmaceuticals was up 1.5%, whereas Vaccines was down 9.8%, with total net sales down 1.1%. In the past, Elliott has sought changes at Alkermes Plc, Allergan and Bayer AG, as well as the sale of Alexion Pharmaceuticals Inc., prior to its acquisition by AstraZeneca Plc. Sanofi's CDMO spinoff set for next month as new group targets 2022 revenues of 1B. These statements include projections and estimates and their underlying assumptions, statements regarding plans, objectives, intentions and expectations with respect to future financial results, events, operations, services, product development and potential, and statements regarding future performance. Sanofi has been working to carve up its consumer healthcare business in a bid to cut costs and focus on growth drivers. 1 Companys estimate based on third-party market research conducted using the annual reports published by the main industrial players in the APIs sector, public databases (including Capital IQ and Orbis) as well as interviews with market experts. Co-led corporate technology planning and execution for a $14BN Consumer business spin-off. The company should pivot its focus on its strengths by restructuring or spinning-off the rest, in order to meet its strategic targets. The . JUNE 28, 2021. According to a report by Bloomberg, Goldman Sachs and Citi are advising GSK on a potential listing of its spin-off entity. In November 2021, Johnson & Johnson announced it would also split off its consumer . content Copyright 2023 Surperformance. /marketintelligence/en/news-insights/latest-news-headlines/sanofi-bucks-industry-trend-by-pledging-to-keep-stand-alone-consumer-unit-68747982 In the EU, the total cost of absenteeism and presenteeism associated with allergies ranges from 55-151 billion annually. As an independent stand-alone company, EUROAPI will be able to fully unlock its growth potential, offering the best alignment of strategy, value creation and financial objectives for all of Sanofis shareholders. Home . . 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. The new head of the business Julie Van Ongevalle has unveiled a wide-ranging turnaround plan with the goal of transforming Sanofi into the OTC market leader. In 2021, Sanofi announced several critical steps in this journey with the unveiling of the creation of EUROAPI and the appointment of Karl Rotthier as its CEO in January, the appointment of Viviane Monges as Chair of the Supervisory Board in July and the finalization of the carve-out in December 2021. 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. It planned to form a new Primary Care global business unit that would combine the product portfolios from its existing Diabetes and Cardiovascular (DCV) unit with Established Products. By 2026, cash generated from operations for New GSK is expected to exceed 10 billion. We understand allergy sufferers needs and have a number of innovative, effective products in our range to respond effectively to each persons specific allergy needs. The net debt/adjusted EBITDA leverage ratio is expected be less than 2x. The company also stated that a formal process to appoint the Chair and form the Board of the consumer healthcare unit is in progress. Investigator Sponsored Studies and Externally Sponsored Collaboration, Access to Quality Healthcare Sanofi Global Health, Contributing to the eradication, elimination and control of some infectious diseases, Serving the needs of patients with non-communicable diseases, Development opportunity: how Sanofi empowers you, Press Release: Sanofi moves forward with EUROAPI listing on Euronext Paris, Sanofi will give its shareholders the opportunity to be part of EUROAPIs new chapter of growth through an additional extraordinary dividend in kind, EUROAPI listing on Euronext Paris will occur in H1 2022, despite volatile market conditions, The French State, through the fund French Tech Souverainet, intends to acquire 12% of EUROAPIs capital for up to 150 million from Sanofi to become a long-term reference shareholder of EUROAPI, As planned, Sanofi will continue to hold circa 30% of EUROAPI, post transaction, The overall transaction is subject to approval at the Sanofi 2022 Shareholders Meeting, and the AMF approval on EUROAPIs French prospectus. Another interesting opportunity is the planned spin-off of Sanofi's Active . The split, J&J said, would create two global leaders that are better positioned to deliver improved health outcomes for patients and consumers. Media Relations J.P. Morgan & Cie S.A.S. 5 Ways to Connect Wireless Headphones to TV. Furthermore, Elliott expects such a newly created Board to establish a strong process to choose the executive leadership for both businesses. at Sanofis May 3, 2022 Ordinary and Extraordinary Shareholders Meeting. 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. All rights reserved. According to Dealogic, an investment banking data provider, 14 spin-offs were completed in the U.S. last year, of which two were healthcare: Bioverativ and . With this focused attention from management, the consumer-health spin-off enjoyed a relatively smooth path to independence and a successful public listing. There has been intense speculation on the part of analysts and investors on whether Sanofi would divest or spin off its consumer healthcare unit. 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. The company was formed by a merger between Glaxo Wellcome plc and SmithKline Beecham plc. Sanofi is offering its animal health unit Merial in exchange for Boehringer's consumer health, or non-prescription drugs, business plus 4.7 billion euros ($5.2 billion) in cash in exclusive . Prioritization will become increasingly important going forward, Hudson told reporters. Low Back Pain (LBP) continues to be the leading reason for Years Lost to Disability (YLTD) in every region of the world,4 affecting around 1 in 10 people. Our portfolio in cough and cold addresses the full range of symptoms so people can get back to their lives. FRANKFURT/PARIS (Reuters) - Sanofi <SASY.PA> is considering a joint venture or outright sale among options for its consumer healthcare unit, sources told Reuters, as the French drugmaker prepares to present a new strategic plan next month. Notice to holders of American Depositary Receipts (ADRs) "We don't worry about what the other companies do, we worry about what we're doing and we're pleased with what's going on in our consumer business.". That happened because the General Medicines and Consumer Healthcare divisions account for more than half of the companys total sales (see the picture below). They are the essential molecules used in the composition and manufacture of any medicine. without the spin-off) from 2022, following anticipated lower growth in 2021 due to currency weaknesses and . The company expects a strong drug pipeline, backed by strong research and development expenses to drive sustainable, long-term growth for the pharmaceutical business. We believe the deteriorating performance at the largest segment may have triggered the need to refocus on the biopharma business. ", latest-news-headlines Global markets live: GM, Pfizer, Exxon, UBS, Boeing EUROAPI Announces Resignation of Corinne Le Goff as an Independent Member on the Board .. Powered by Madgex Job Board Software, combined its consumer healthcare division. Health. 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. Again, the sooner the better. We are pleased these products will continue to be available for consumers as we focus on becoming a fully integrated standalone business said Julie Van Ongevalle, Executive Vice-President, Sanofi and Head of Sanofi Consumer Healthcare. The French drugmaker spent more than 12 billion on acquisitions in the last two years to bolster the group's pipeline of early medicines, said CFO Jean-Baptiste de Chatillon, who added that the company will ramp up R&D spending by around half a million euros in 2022. An IPO could come as soon as 2022. We wanted it to be a fast-growing consumer health business [and] to explain to the market why we thought we were the best owner.". 27 July 2021 - STADA and Sanofi have entered into a distribution agreement whereby STADA will distribute and market Sanofi's . "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. Julie Van Ongevalle Other than as required by applicable law, Sanofi does not undertake any obligation to update or revise any forward-looking information or statements. "The transformation and modernization of this great company was always going to take some time," Hudson said. GSK cited the opportunity cost from the immense profit and cash generation potential of the consumer healthcare unit as well as higher expenses in the form of taxes in case of a sale as compelling reasons for the spin-off. Notice In connection with the proposed spin-off, French Tech Souverainet has agreed to purchase 12% in EUROAPI shares from Sanofi for up to 150 million, with the acquisition price to be determined based upon the thirty day volume weighted average trading price ("VWAP") of EUROAPI's shares on Euronext Paris, starting on the first day of trading. All rights reserved. Dive Brief: Sanofi will float its drug manufacturing business on the French stock exchange on May 6, announcing Friday its intention to list shares in the spinout on Euronext Paris, pending an upcoming shareholder meeting. 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. The company will be able to rely on the expertise of around 3,350 employees and expects to achieve consolidated sales of around EUR 1 billion in the year ending December 31, 2022. Active Pharmaceutical Ingredients (APIs) are the chemical or biological substances in a medicine that have a therapeutic effect. Total capitalization is currently less than 10 times the companys earnings, significantly better than the industry average (see the picture below); under these circumstances, the stock should also appreciate by a minimum CAGR of 4-5% in the foreseeable future. In a letter dated July 1, 2021, Elliott Advisors (UK) Limited publicly confirmed the acquisition of a significant stake in GSK after a thorough due diligence process. *About Active Pharmaceutical Ingredients (APIs) Market Intelligence Roche. Analysts agree that JAZZ is one of the best healthcare stocks out there. Sanofi Forward-Looking Statements J&J has said the planned separation of its consumer and drug and devices divisions is separate and distinct from the talcum powder lawsuits. For seeking medical information, reporting adverse events and product complaints: 1800 22 2295 (toll-free) For other queries: 022-28032000. Composition and manufacture of any medicine in EuroAPI on May 6, Ordinary. 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