Sanofi: aims to create European API giant
(CercleFinance.com) - The Sanofi group today announces its aim to create a "new industry leading European company to provide active pharmaceutical ingredients (API)".
These are "the essential molecules responsible for the beneficial effects used in the composition of any drug."
This project would consist of bringing together the commercial and API development activities of Sanofi, with 6 of its manufacturing sites in a new standalone company. The sites concerned are those of Brindisi (Italy), Frankfurt Chemicals (Germany), Haverhill (United Kingdom), St Aubin les Elbeuf (France), Újpest (Hungary) and Vertolaye (France).
"The new company would rank as the world's second largest API company with approximately E1 billion in expected sales by 2022. It is expected to include 3,100 skilled employees and to be headquartered in France. A planned IPO on Euronext Paris would be evaluated with a decision expected by 2022, subject to market conditions," Sanofi said - it would keep a minority stake of around 30% in the capital of the new company.
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