(CTN News) – According to a company statement on Friday, French drugmaker Sanofi is considering the possibility of listing its Consumer Healthcare business separately from its core business as soon as the fourth quarter of next year, and is also boosting drug development at its core business.
According to a statement issued by Sanofi on Tuesday, the company has been in the process of reviewing possible separation scenarios, but it believes that the most likely route is to create a publicly traded entity with a French headquarters through a capital market transaction,” the Paris-listed company said.
In addition, Sanofi added that it would consult with employee representatives on any deal that might be considered, as the timing of the spin-off,
Which Sanofi says will not take place before the end of the fourth quarter of 2024, will be determined to maximize shareholder value creation, according to the company.
Additionally, Sanofi also stated that it expects its adjusted earnings per share to fall by a single digit percentage in 2024, primarily due to increased spending on research and development as well as a higher tax rate, before rebounding strongly in 2025 as a result of the lower tax rate.
As a result of the cost savings planned from 2024 to the end of 2025, it is expected that the company will be able to save about 2 billion euros ($2.11 billion) in cost savings, the majority of which will be allocated for innovation and growth.
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