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Sanofi to turn India consumer healthcare business into listed entity via demerger: Report
New Delhi: French drugmaker Sanofi has started a process to turn its India consumer healthcare business into a listed entity via a demerger, the Economic Times newspaper reported on Friday.
The company is working with Bank of America on the spin-off process, ET reported, citing people familiar with the matter.
Sanofi India did not immediately respond to a Reuters' request for comment.
About 60% of Sanofi India is owned by Sanofi and its wholly owned subsidiary Hoechst Gmbh, while the rest is held by foreign and domestic institutional and retail investors, the report said, adding that the consumer business would be listed separately with a similar shareholding pattern.
Read also: Diabetes drug: Sanofi gets marketing authorization from CDSCO for Soliqua
Ruchika Sharma joined Medical Dialogue as an Correspondent 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