Economy. Sanofi will spin off its Consumer Healthcare business in 2024
Doliprane, Aspegic, Lysopaïne, Novanuit, Physiomer, Magne B6… French pharmaceutical giant Sanofi announced on Friday its intention to separate from its Consumer Health activity in 2024 to focus on innovative medicines and vaccines and indicates that it is targeting savings of up to 2 billion euros between 2024 and the end of 2025.
This separation will take place “at the earliest in the fourth quarter of 2024, through the creation of a listed entity whose headquarters will be in France”, details the group in a press release published on the occasion of the presentation of its quarterly results. This operation “will make it possible to further adapt the management and allocation of resources to the needs of the biopharmaceutical activity”, where “value creation opportunities and longer-term operational levers have been identified to support the acceleration investments in research and development,” explains the group.
Sanofi’s Consumer Health business includes food supplements and various products sold without a prescription such as Mucosolvan for coughs, Allegra for rhinitis and the Novanuit brand for sleep. We also find there paracetamol Doliprane to relieve pain. In the third quarter, it showed an increase of 4.6%, supported by products related to digestion and allergies, representing 1.245 billion euros, or more than 10% of its turnover.
In July, Sanofi announced the acquisition of the American company Qunol to strengthen its position in food supplements without revealing the amount of the transaction.
Furthermore, Sanofi is targeting savings of up to 2 billion euros between 2024 and the end of 2025 and “the majority of which will be reallocated to financing innovation and growth engines”.
