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Sanofi Plans Ingredients Unit IPO Within Months: Report
Paris: Sanofi, the French pharmaceutical giant, plans to sell shares in its drug-ingredients division in the next few months, a senior executive said.The company announced the potential initial public offering in February as Chief Executive Officer Paul Hudson sought to revamp the drugmaker's strategy, focusing on fields such as cancer."We'll try to launch it on the market," Sanofi...
Paris: Sanofi, the French pharmaceutical giant, plans to sell shares in its drug-ingredients division in the next few months, a senior executive said.
"We'll try to launch it on the market," Sanofi France Chairman Olivier Bogillot said on France Inter radio on Saturday. "We'll do an IPO in the coming months."
Sanofi has said the move will help ensure supplies of essential components used to make medicines and reduce the industry's heavy reliance on Asia, which was exposed at the beginning of the coronavirus outbreak.
The unit is combining Sanofi's commercial and development activities with six of its European production sites, including facilities in Frankfurt and Brindisi, Italy.
Read also: Sanofi, GSK begin human trial of coronavirus vaccine candidate
Ruchika Sharma joined Medical Dialogue as an Desk Editor for the Business Section in 2019. She covers all the updates in the Pharmaceutical field, Policy, Insurance, Business Healthcare, Medical News, Health News, Pharma News, Healthcare and Investment. She has completed her B.Com from Delhi University and then pursued postgraduation in M.Com. She can be contacted at editorial@medicaldialogues.in Contact no. 011-43720751