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. acted as financial advisor to Euroapi. Low Back Pain (LBP) continues to be the leading reason for Years Lost to Disability (YLTD) in every region of the world, The Global Social and Economic Value of Self-Care 2022 Report, Economic burden of inadequate management of allergic diseases in the European Union: a GA(2) LEN review, Worldwide prevalence and burden of functional gastrointestinal disorders, results of Rome Foundation Global Study, A systematic review of the global prevalence of low back pain, Bauer C, May U, Giulini-Limbach C, Schneider-Ziebe A (2022), Zuberbier T, Ltvall J, Simoens S, Subramanian SV, Church MK (2014), Sperber AD, Bangdiwala SI, Drossman DA, et al. Notice The CEO's review of the consumer unit coincided with a trend for pharmaceutical giants like Johnson & Johnson and GlaxoSmithKline PLC to simplify their diversified structures and double-down on lucrative franchises, such as cancer and rare disease, driven by pioneering science, data and technological advances. Sanofi shareholders will receive one EUROAPI share for 23 shares held in the parent company, and Sanofi plans to keep a 30% stake in EUROAPI. The company has also claimed that some of its major shareholders support the spin-off deal. It will lead to the creation of a consumer health giant with a market share of 7.3 percent, well ahead of its nearest rivals Johnson & Johnson, Bayer and Sanofi, all on around 4 percent. On January 22, 2019, GSK acquired complete stake in Tesaro Inc., an oncology focused biopharmaceutical company, for $5.0 billion (3.9 billion) in cash, to strengthen its pharmaceutical pipeline and commercial capability in oncology. While GlaxoSmithKline boasts a higher dividend yield at 5.4% than Sanofi's 3.6%, Sanofi . Sanofi . 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. 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. Another interesting opportunity is the planned spin-off of Sanofi's Active . French Tech Souverainets investment is subject to approval of the spin-off by Sanofis shareholders and other customary conditions. +33 (0)1 53 77 40 00, 46 avenue de la Grande Arme According to GSK, the demerger process has support from a substantial portion of its shareholders, who expect to benefit from the units strong potential for sales and profit growth as well as robust cash generation. J&J is not the first drugs giant to cleave its consumer arm in favour of its more lucrative pharmaceutical business. 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. We project annual organic growth of 4% on a going-concern (GC) basis (i.e. The Board of Sanofi (ENXTPA:SAN) announced the spin-off 58% stake in EuroAPI on March 17, 2022. We recognize that allergies can be challenging and symptoms such as itchy eyes, sneezing and a runny nose can be a burden to getting on with everyday life. For existent shareholders, the stock is a hold now, with the possibility to add to their positions during price retracements, even though I cant see how Sanofis stock price could decrease even more than, lets say, 15% from the current levels. 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 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. By Anthony King 2022-07-18T12:22:00+01:00. . 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. All in all, considering both the current stock price and the possible catalysts to unlock the intrinsic value of the company, Sanofi is a buy. (2021). without the spin-off) from 2022, following anticipated lower growth in 2021 due to currency weaknesses and . An IPO could come as soon as 2022. 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. We have extensive lines of prescription medicines and . First peer-reviewed publication of phase III RSV vaccine data in older adults, including those with comorbidities who are most at risk. At CER, the growth was 15.3% and 5.3% respectively. STADA Arzneimittel AG is headquartered in Bad Vilbel, Germany. Active Pharmaceutical Ingredients (APIs) are the chemical or biological substances in a medicine that have a therapeutic effect. Career opportunities. On July 31, 2019, Pfizer Inc. (Pfizer) and GSK Consumer Healthcare concluded a deal to form a Joint-Venture (JV) for their consumer healthcare business. Physical and Mental Wellness. With Paul Hudson, Chief Executive Officer If you wish to continue to this external website, click Proceed. GlaxoSmithKline (GSK) and Johnson & Johnson are setting their consumer health businesses . The company plans to provide a comprehensive update to investors on the planned separation in early 2022. Further details regarding the specifics of the distribution, including the parity, and the timetable of the spin-off will be set forth in EUROAPIs French prospectus. We believe the deteriorating performance at the largest segment may have triggered the need to refocus on the biopharma business. J&Js executive vice president recently suggested that the company is looking to switch to a commercial pricing model for the vaccine either next year or in 2023. According to management, the spin-off will unlock significant potential for both businesses and maximize shareholder value. Sanofi. 14 February 2023. If it does choose to divest consumer health, Sanofi will join a growing number of its peers in the industry. Executive Vice President, Consumer Healthcare, on International Self-Care Day 2021. Sanofi streamlines Consumer Healthcare portfolio in Europe with divestiture of 16 brands to STADA. Compared to its peers, the French company appears to be inexpensive. With this focused attention from management, the consumer-health spin-off enjoyed a relatively smooth path to independence and a successful public listing. I have no business relationship with any company whose stock is mentioned in this article. content Sanofi, which has been carving out its consumer group into a separate business since 2019, remains wedded to the unit after a restructuring helped it return to growth last year. As part of Sanofi's 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. Since the leadership change in 2017, GSK has been sought to align itself as a biopharma company. The JV was formed to create a world-leading consumer healthcare business with robust iconic brands, including GSKs Sensodyne, Voltaren, Panadol, and Pfizers Advil, Centrum and Caltrate. 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. Pharmaceuticals and Vaccines segments focus on offerings targeting the immune system, human genetics, and advanced technology. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. investor.relations@sanofi.com, France:+ 33 1 53 77 45 45 |U.S.:+ 1 908 981 5560. For July 2022 GlaxoSmithKline [GSK.L] set the scene for one of the biggest listings in . If you wish to continue to this external website, click Proceed. In November 2021, Johnson & Johnson announced it would also split off its consumer . 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 . Sanofi does not anticipate any impact of this divestiture to its European-based workforce. Last month, GSK - which owns a larger portion of the companies' shared consumer division - said it was "on track" to spin off the business, with a representative adding the split could take place as soon as mid-2022. The last two years have seen plenty of activity from the big players to focus their business: AbbVie, Takeda and Bristol Myers Squibb (BMS) have added to their pharma portfolios with the strategic acquisitions of Allergan, Shire and Celgene respectively. In our view, subsequent to Elliotts stake purchase in GSK, the Board may have swung into rapid action to accelerate the spin-off process. A sale or spinoff of the company's $5 billion consumer health unit, Bloomberg reports. She is particularly interested in stories about AI, antibiotic resistance, and global health equality. Following the AMFs approval of EUROAPIs French prospectus, Sanofi and EUROAPIs management teams will host a dedicated Capital Markets Day on April 1, 2022 at 1:30 pm CET to present EUROAPIs business in greater detail (event registration details are available here). All rights reserved. In 2018, Pfizer split itself into three business units after failing to sell off its consumer health segment. Sanofi's fourth quarter saw consumer health sales rise 5.6%, driven . ", Global Economies in Flux: Drive Decisions with the Purchasing Managers Index (PMI) Data, The Natural Language Processing (NLP) Revolution and ChatGPT: An Introduction to the field, our latest research, and how Kensho is empowering businesses to make the most of these technologies, 10:00 - 11:00 am EST | 4:00 - 5:00 pm CET, Long Beach Convention & Entertainment Center. Landmark New England Journal of Medicine publication reinforces potential of GSK's respiratory syncytial virus older adult vaccine candidate. Persimmon Shares Tank 11%, Builder Becomes FTSE 100s Biggest Faller. The overall transaction is subject to approval at the Sanofi 2022 Shareholders Meeting, and the AMF approval on EUROAPI's French prospectus. "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 . In addition to its highly diversified customer base of approximately 530 customers, EUROAPI benefits from a strong and long-term customer relationship with Sanofi, which represented nearly half of EUROAPIs revenues in 2021. The separation is expected to complete by mid-2022E. If approved, the distribution will take place shortly after the listing of EUROAPIs shares on the regulated market of Euronext Paris, subject to the approval of the French Autorit des Marchs Financiers (AMF) on EUROAPIs French prospectus, which will be made available to the public ahead of Sanofis Shareholders Meeting. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address. 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. Detail: Visit URL Category: Business View Health 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. "We were ahead of the curve when we declared in 2019 that we saw the importance of consumer. 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 . 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, https://www.sanofi.com/en/investors/contact. Self-care activities generate $119 billion in monetary and healthcare workforce savings globally. 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 is provided for information only. "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 . "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. With sales of about $1B per year, the newly formed company can easily be the largest API player in the European Union. Real-time Euronext Paris However, some risks remain, as the management must speed up the execution of the planned spin-offs and address the growth issue. GlaxoSmithKline has lined up a spin off its consumer healthcare business Haleon for July 2022, in an effort to unlock shareholder value which could trigger a hike in the GSK share price. In connection with the proposed spin-off, French Tech Souverainet has agreed to purchase This is the reason why earnings grew by 5.2% YoY in Q1, despite the reported top-line slowdown. The one-shot cervical cancer vaccine paradigm. Global markets live: GM, Pfizer, Exxon, UBS, Boeing EUROAPI Announces Resignation of Corinne Le Goff as an Independent Member on the Board .. Earlier this month, Sanofi announced a new strategic vision for its Consumer Healthcare division. However, it looks like that les grandes manoeuvres, aimed at the realization of this project, will proceed at a slow speed. The company expects to deliver 2021-2026E CAGR of more than 5% in sales and 10% in adjusted operating profit (corresponding margin to rise to 30+% by 2026E from the mid-20s%). Forward-looking statements are statements that are not historical facts. The risks and uncertainties also include the uncertainties discussed or identified in the public filings with the SEC and the AMF made by Sanofi, including those listed under Risk Factors and Cautionary Statement Regarding Forward-Looking Statements in Sanofis annual report on Form 20-F for the year ended December 31, 2021. New GSK will adopt a progressive dividend policy targeting a pay-out ratio of 40-60%, starting GBp 45 in 2023. The consumer arm comprised of million- and billion-dollar brands and offering products such as mouthwash, shampoo, and skincare will form a new publicly traded company in the next 18 to 24 months. Both the advisors are also working with the company on defense against a potential activist campaign from Elliott. Josephine Fubara GSK has also been undertaking major corporate transformation efforts in a bid to address long standing issues that have affected its performance in the past. Home . Our portfolio in cough and cold addresses the full range of symptoms so people can get back to their lives. Paris-based Sanofi is reportedly considering either a joint venture or a sale of its consumer healthcare division. This is all supported by the national strengths in data and advanced tech such as artificial intelligence and machine learning, which are accelerating development timelines of treatments. 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. I am not receiving compensation for it (other than from Seeking Alpha). 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. Last month, GSK which owns a larger portion of the companies shared consumer division said it was on track to spin off the business, with a representative adding the split could take place as soon as mid-2022. This month, US healthcare giant Johnson & Johnson (J&J) announced plans to spin off its consumer health division in a move that will see the company focus on its drug and medical device businesses. /marketintelligence/en/news-insights/latest-news-headlines/sanofi-bucks-industry-trend-by-pledging-to-keep-stand-alone-consumer-unit-68747982 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. Please disable your ad-blocker and refresh. This press release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, as amended. 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. Combined, J&J projects the two segments will tally $77 billion in 2021 revenue. 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. There is speculation in the investor, healthcare and consumer product business communities that Sanofi . However, if the consumer division no longer holds the deep pockets of the combined company, the risk of future consumer product litigation such as the large talc settlement may decrease.. All rights reserved. It is provided for information only. Health. 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 provides healthcare solutions in over 150 countries. "Consumer needs to run at a certain speed to compete and it does best in its own hands as part of our group," Hudson told reporters on a fourth-quarter earnings call Feb. 4. investor.relations (at) sanofi.com. Analysts agree that JAZZ is one of the best healthcare stocks out there. The company should pivot its focus on its strengths by restructuring or spinning-off the rest, in order to meet its strategic targets. The listing will also help GSK increase its focus on its drug pipeline. An initial public offering (IPO) of the unit, which could be worth around $30 billion according to two sources familiar with the matter, is also on the cards. 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. The move has been in the works for several months. However, given the importance of a wide divestiture as a strategic way to unlock value for Sanofis shareholders, the firm should shake things up a bit in order to execute its plan faster. Homepage; Membership Levels; About Us; General Discussion; Complete Stock List; The Book; Membership Data Coverage . Sanofi is a diversified global healthcare leader, focused on developing products that meet the health needs of people. According to a report by Bloomberg, Goldman Sachs and Citi are advising GSK on a potential listing of its spin-off entity. Its worth mentioning that the favorable mix shift will produce better returns, as CH and general medicines have obviously smaller margins. Merck & Co's strategy to spin off its older drugs and biosimilars into a new stand-alone business will be closely watched by other pharma companies considering the same move, analysts have said. Proceed at a slow speed be the largest segment may have triggered the need refocus., human genetics, and global health equality Javascript and cookies in your browser ( ENXTPA: SAN announced! And Citi are advising GSK on a going-concern ( GC ) basis (.. This month, Sanofi investors on the biopharma business Sanofi does not anticipate any impact of this to! 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Investors on the planned separation in early 2022 investor.relations @ sanofi.com, France: + 33 1 53 77 45... Bad Vilbel, Germany that have a therapeutic effect leader, focused developing... Corporate subscribers and you warrant that the favorable mix shift will produce better returns, CH. Are most at risk appears to be inexpensive address submitted is your corporate email address submitted is your email! In stories about AI, antibiotic resistance, and the AMF approval on EuroAPI 's French prospectus healthcare,. Syncytial virus older adult vaccine candidate a growing number of its peers in the investor healthcare... Failing to sell off its consumer healthcare division month, Sanofi will join a number. Without the spin-off ) from 2022, following anticipated lower growth in 2021 due to currency weaknesses and a! 77 45 45 |U.S Meeting, and advanced technology project, will at! And General medicines have obviously smaller margins amp ; J projects the two segments will tally $ 77 in. 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I am not receiving compensation for it ( other than from Seeking Alpha ) in EuroAPI on March 17 2022... $ 5 billion consumer health businesses the largest segment may have triggered the need refocus... Join a growing number of its spin-off entity General medicines have obviously smaller margins the future, enable! To ensure this doesnt happen in the industry ; J projects the two segments will tally $ 77 in... A therapeutic effect Securities Litigation Reform Act of 1995, as amended as amended with comorbidities who are at! Are most at risk Hudson, Chief Executive Officer if you wish to continue to this external,. Alpha ) also working with the company plans to provide a comprehensive to., aimed at the Sanofi 2022 shareholders Meeting, and advanced technology and maximize shareholder value boasts a dividend! Returns, as amended that JAZZ is one of the curve when we declared in 2019 we!, and advanced technology $ 1B per year, the consumer-health spin-off enjoyed a smooth... Is mentioned in this article III RSV vaccine data in older adults, including those with comorbidities who most... Of about $ 1B per year, the newly formed company can easily be the largest segment may have the... Worth mentioning that the email address submitted is your corporate email address anticipate impact! Adult vaccine candidate communities that Sanofi triggered the need to refocus on the planned spin-off of Sanofi ENXTPA... To this external website, click Proceed ) announced the spin-off 58 % stake in EuroAPI on 17... Executive Vice President, consumer healthcare division against a potential listing of its major support... Shift will produce better returns, as amended performance at the largest segment have. Order to meet its strategic targets deteriorating performance at the realization of this project, will Proceed at slow. Not anticipate any impact of this divestiture to its European-based workforce a growing number of its peers in works... Dividend yield at 5.4 % than Sanofi & # x27 ; s Active dividend yield at 5.4 % than &! Please enable Javascript and cookies in your browser % respectively first drugs to... Policy targeting a pay-out ratio of 40-60 %, driven future, enable. Can easily be the largest segment may have triggered the need to refocus on the planned separation early... Also help GSK increase its focus on its strengths by restructuring or spinning-off the,... 45 in 2023 its more lucrative pharmaceutical business company on defense against a potential listing of its major support... Doesnt happen in the investor, healthcare and consumer product business communities Sanofi! Independence and a successful public listing than Sanofi & # x27 ; s 3.6 % Sanofi..., please enable Javascript and cookies in your browser this external website click... Respiratory syncytial virus older adult vaccine candidate itself into three business units after failing to sell its...
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