Disclosure: I/we have a beneficial long position in the shares of SNYNF either through stock ownership, options, or other derivatives. The main risks at this point are just connected with poor execution, but given the quality of the incumbent management, I would not put much credit on it. Brentford, U.K.-based GSK, meanwhile, will spin out its consumer unit by mid-year, after turning down three bids from consumer goods giant Unilever PLC reaching 50 billion, which the drugmaker considered to undervalue the business. Pfizer Inc. said Tuesday it is exploring a sale or spin-off of its consumer-health business, the pharmaceutical company's latest move to double down on prescription-drug sales and a potential . All rights reserved. Again, the sooner the better. /marketintelligence/en/news-insights/latest-news-headlines/sanofi-bucks-industry-trend-by-pledging-to-keep-stand-alone-consumer-unit-68747982 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. 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. The gut is often referred to as the bodys second brain. The one-shot cervical cancer vaccine paradigm. Please. Julie Van Ongevalle According to management, the spin-off will unlock significant potential for both businesses and maximize shareholder value. Since the leadership change in 2017, GSK has been sought to align itself as a biopharma company. 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. 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. GlaxoSmithKline plc (GSK) today announced that the new company, to result from the proposed demerger of Consumer Healthcare from GSK in mid-2022, will be called Haleon. Jones Day (France) acted as legal advisors to Sanofi. A second unit would be called China & Emerging Markets and was to focus on what Sanofi called the unique characteristics and tremendous growth opportunities in emerging markets, particularly in China which is Sanofis second-largest market after the United States.. 5 Ways to Connect Wireless Headphones to TV. Boehringer paid Sanofi 4.7 billion in cash. Moreover, the company aims to prioritize research and development and commercial investment in vaccines and specialty medicines, which are expected to grow to around three-quarters of company sales by 2026E. If you wish to continue to this external website, click Proceed. It operates through three business segments Pharmaceuticals, Vaccines and Consumer Healthcare. Key components to future growth of Sanofi's OTC business in the United States . It just raised its 2020 dividend (paid last May) for the 27th year in a row (in Euros). The company expects a strong drug pipeline, backed by strong research and development expenses to drive sustainable, long-term growth for the pharmaceutical business. Analysts have speculated in recent weeks over a possible divestment or spin-off of Sanofi's consumer healthcare arm, whose revenue grew by 3% at constant exchange rates last year to 4.7 billion . The new Primary Care unit was to focus on mature markets. You may opt-out by. The combined global sales were about $12.7 billion in 2017. Morningstar analyst Damien Conover said: The firms timing is surprising, as we dont see any major catalyst for the move. chc@sanofi.com (Consumer healthcare products) For reporting adverse events: PV.india@sanofi.com. The corporation said it would complete the split in 18 to 24 months at a cost of $ 500 billion to $ 1 billion. Johnson & Johnson, Bayer and Sanofi, according to Reuters, are close competitors in the consumer healthcare market. This, in turn, will contribute significantly to more sustainable healthcare systems. Please contact the Global Headquarters in France . | As part of its quest to streamline consumer healthcareand eventually spin off the unit as a standalone businessSanofi will offload 16 consumer health products to Germany's Stada . (Just Now) WebOn June 23, 2021, GlaxoSmithKline plc (NYSE: GSK, $40.45, Market Cap: $101.8 billion) announced that it plans to spin-off its Consumer Healthcare division into a separately listed company. We are committed to providing world-class products and services that help manage energy, stress, sleep and anxiety. I am encouraged by the organizations early achievements in our efficiency initiatives, which will allow us to further drive innovation in our business., 1985 - 2023 BioSpace.com. For July 2022 GlaxoSmithKline [GSK.L] set the scene for one of the biggest listings in . Neither Sanofi nor EUROAPI assumes any responsibility for any violation of any such restrictions by any person. Published: Nov 21, 2019 Career opportunities. Sanofi. Is this happening to you frequently? 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. Our brands are trusted across the world, and some have been on the market for over 50 years. Because your health starts with you, we are committed to providing self-care solutions to allow you to better manage your personal well-being. In 2018, Pfizer split itself into three business units after failing to sell off its consumer health segment. . ALTUVIIIO approved by the U.S. FDA: this positive event triggers impairment reversal, positively impacting 2022 IFRS net income; no change on business net income (non-IFRS), Press release: New Phase 3 data presented at WORLDSymposium reinforce Nexviazyme (avalglucosidase alfa) as potential new standard of care for all people living with late-onset Pompe disease, Media Update: New data for tolebrutinib, Sanofis investigational brain-penetrant BTK inhibitor, showed significant effect on CNS immune mediators that driveMS disease progression, 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, Credit Suisse London Health Care Conference, With Paul Hudson, Chief Executive Officer, Cowens 43rd Annual Health Care Conference, With Bill Sibold, EVP, Specialty Care & Frank Nestle, Global Head of Research, Chief Scientific Officer. This press release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, as amended. GlaxoSmithKline (GSK) and Johnson & Johnson are setting their consumer health businesses . Chief Science Officer for Consumer Healthcareon International Self-Care Day 2022. As a part of deal, GSK held majority controlling equity interest of 68% in the JV and the rest 32% equity interest was owned by Pfizer. 1 Companys estimate based on third-party market research conducted using the annual reports published by the main industrial players in the APIs sector, public databases (including Capital IQ and Orbis) as well as interviews with market experts. Builds strategic relationships, both internally . As of 31 December 2020, STADA employed 12,301 people worldwide. *About Active Pharmaceutical Ingredients (APIs) A conservative scenario should include stagnant sales in the next few years, with EPS growing mid-single digit yearly. Sanofi provides healthcare solutions in over 150 countries. The company will be able to rely on the expertise of around 3,350 employees and expects to achieve consolidated sales of around EUR 1 billion in the year ending December 31, 2022. without the spin-off) from 2022, following anticipated lower growth in 2021 due to currency weaknesses and . Launched in June 2020 by the French government, French Tech Souverainet is an investment envelope managed by Bpifrance, with both proactive and defensive vocation. This, coupled with expected stronger cash flow generation, will provide additional flexibility to support future investments in growth. "It's very significant, we are really reallocating our cost base towards innovation on science," the CFO said. When it lists on the Lon . Therefore, investors should approach this investment with a long-term mindset. About Sanofi If you have an ad-blocker enabled you may be blocked from proceeding. Many have decided either to sell off the divisions in whole or in part - including Novartis, Merck KGaA, Bristol-Myers Squibb and Bayer for example - while GlaxoSmithKline and Pfizer both slimmed down their range before combining . Is the microbiome therapy hype up for a reckoning? However, the French dividend tax for foreign individuals amounts to just 12.8%. My holding period is ideally "forever", even though I can't exclude to make some changes from time to time. We believe the separation could be a trigger for driving improved share price appreciation, given that the stock has underperformed peers historically. 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, Press Release: Sanofi moves forward with EUROAPI listing on Euronext Paris, Sanofi will give its shareholders the opportunity to be part of EUROAPIs new chapter of growth through an additional extraordinary dividend in kind, EUROAPI listing on Euronext Paris will occur in H1 2022, despite volatile market conditions, The French State, through the fund French Tech Souverainet, intends to acquire 12% of EUROAPIs capital for up to 150 million from Sanofi to become a long-term reference shareholder of EUROAPI, As planned, Sanofi will continue to hold circa 30% of EUROAPI, post transaction, The overall transaction is subject to approval at the Sanofi 2022 Shareholders Meeting, and the AMF approval on EUROAPIs French prospectus. investor.relations (at) sanofi.com. However, net sales took a dive in Q1, declining by roughly 4.6% YoY (reported). "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. About French Tech Souverainet Post separation, the new Consumer Healthcare company is expected be listed on London Stock Exchange (LSE) with ADR to be listed in the US. Any distribution of the Shares may be subject to specific legal or regulatory restrictions in certain jurisdictions. Executive Vice President, Consumer Healthcare, on International Self-Care Day 2021. This press release does not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in France, the United Kingdom, the United States of America, Canada, Australia, Japan or any other jurisdiction. Post-separation, J&J will focus its attention on the pharmaceutical and medical devices segments, which are expected to generate revenues of around $77bn this year, according to the company. 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. Esta no es la primera vez que Sanofi proyecta una escisin. As part of Sanofis 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. at Sanofis May 3, 2022 Ordinary and Extraordinary Shareholders Meeting. In line with its Play to Win strategy aiming at simplifying its operations, Sanofi announced in February 2020 its ambition to create a new world leader in APIs to secure significant manufacturing and supply capacities that are critical for patients in Europe and beyond, in a context of increasing shortage of medicines essential to patient care. Building on this foundation, Sanofi delivered a resilient underlying performance in the third quarter with strong sales in Specialty Care, largely driven by the continued outstanding performance of Dupixent. 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. Other commercial successes in J&Js pharma portfolio include inflammatory disease therapy Stelara, which reaped $7.7bn in revenue last year; monoclonal antibody Darzalex for the treatment multiple myeloma; lymphoma and chronic graft-versus-host disease drug Imbruvica, developed with AbbVie; and antibody-based plaque psoriasis treatment Tremfya. If you wish to continue to this external website, click Proceed. Some, however, have speculated that the separation is an attempt by J&J to protect itself from ongoing lawsuits relating to its allegedly cancer-causing talcum powder products. That happened because the General Medicines and Consumer Healthcare divisions account for more than half of the companys total sales (see the picture below). I wrote this article myself, and it expresses my own opinions. We are pleased these products will continue to be available for consumers as we focus on becoming a fully integrated standalone business said Julie Van Ongevalle, Executive Vice-President, Sanofi and Head of Sanofi Consumer Healthcare. I am not receiving compensation for it (other than from Seeking Alpha). Cash flow should follow this trend too, allowing further dividend increases. It followed a historic slump in over-the-counter sales for cough and cold medicines across the industry in 2020 as a result of social distancing and other pandemic-related regulations. Self-care activities generate $119 billion in monetary and healthcare workforce savings globally. Rx Sales: USD 49.293 billion. Roche. Sanofi's Board of Directors unanimously proposed to submit to its shareholders the distribution of circa 58% of the share capital of EUROAPI. The integration of core business functions at Sanofi Consumer Healthcare represents the "next level of autonomy" for the business, according to group CFO Jean-Baptiste Chasseloup de Chatillon. Pursuant to the terms of the deposit agreement between JP Morgan, as Depositary, Sanofi and the owners and beneficial owners of American Depositary Receipts, as the Depositary deems the distribution of EUROAPI shares to ADS holders not to be feasible, the Depositary may adopt such method as it may reasonably deem equitable and practicable for the purpose of effecting the distribution of EUROAPI shares, including the sale of the EUROAPI shares and distribution of the net cash proceeds of the sale to ADR holders on the relevant record date. With Paul Hudson, Chief Executive Officer Naturally, there are reasonable excuses for the underperformance, especially for the CHC business, which registered significant sales in the first quarter of last year, as consumers were stocking up on over-the-counter drugs while, at the same time, the anti-Covid measures caused a low incidence of seasonal flu, cold and cough in Q1/2021. Surface Studio vs iMac - Which Should You Pick? French Tech Souverainets investment is subject to approval of the spin-off by Sanofis shareholders and other customary conditions. A sale or spinoff of the company's $5 billion consumer health unit, Bloomberg reports. By Mark Terry. The Board of Sanofi (ENXTPA:SAN) completed the spin-off 58% stake in EuroAPI on May 6, 2022. There is speculation in the investor, healthcare and consumer product business communities that Sanofi . The Board will review any alternative options for the consumer healthcare unit and compare them with shareholders opportunity cost, including taxes and other expenses. At the time, Hudson stated, Since joining Sanofi only two months ago, I am increasingly excited about the strength of our businesses, our ability to develop transformative medicines and the diverse talent of our teams across the organization. J&J has said the planned separation of its consumer and drug and devices divisions is separate and distinct from the talcum powder lawsuits. The company, which is facing some notable patent expirations in the coming few years, has announced a plan to spin off its consumer healthcare business in 2023. The move has been in the works for several months. In 2022, GSK shareholders will receive dividends from New GSK and Consumer Healthcare NewCo due to the expected mid-year timing of the separation. Sanofi India (NSE:SANOFI) Dividend Payout Ratio as of today (March 01, 2023) is 0.00. Dividend Payout Ratio explanation, calculation, historical data and more. Paris-based Sanofi is reportedly considering either a joint venture or a sale of its consumer healthcare division. Business is on track to demerge and list as a new company in mid-2022. Sanofi Pharma; Sanofi Genzyme; Sanofi Pasteur; Our data sharing commitments; Managed Access Programs (MAPs) . 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. This acquisition further strengthens STADA as a top-five player in Europes consumer healthcare market, supports our growth acceleration, and is another proof point of STADA as a go-to-partner, commented STADAs CEO, Peter Goldschmidt. In the EU, the total cost of absenteeism and presenteeism associated with allergies ranges from 55-151 billion annually. The Consumer Healthcare business comprises major brands targeting oral health, pain relief, cold, flu and allergy, digestive health and vitamins, minerals and supplements. As part of restructuring efforts, GSK and Pfizer merged its consumer healthcare business with that of in 2019. Disentangling the consumer unit from the complexity of France's largest pharmaceutical company helped the consumer group record a 4.6% year-on-year rise in 2021 sales, CEO Paul Hudson said. 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 . . 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. As previously announced, under the terms of the transaction, Pfizer owns a 32% equity stake in the joint venture and GSK owns 68%. Global markets live: GM, Pfizer, Exxon, UBS, Boeing EUROAPI Announces Resignation of Corinne Le Goff as an Independent Member on the Board .. If you wish to continue to this external website, click Proceed. The leading site for news and procurement in the pharmaceutical industry. 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. Sanofi said on Tuesday it hopes to take over the consumer health care unit of German peer Boehringer Ingelheim via an asset swap, making the French pharmaceutical giant the sector's world leader. Drawing on more than 150 years of experience in the growing API market, EUROAPI has a network of six production sites, all of which are located in Europe, and delivers around 200 APIs to approximately 530 customers in over 80 countries. (Photo by Ben STANSALL / AFP) (Photo by BEN STANSALL/AFP via Getty Images). According to a report by Bloomberg, Goldman Sachs and Citi are advising GSK on a potential listing of its spin-off entity. The deal increased Sanofis consumer healthcare market share to about 4.6% and bolstered its operations in specific markets in Germany and Japan. 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). Detail: Visit URL Category: Business View Health "We're going to build an industry-leading and sustainable pipeline," the CEO said. The profit growth will be supported by new vaccines and specialty drugs, and improved operational performance. 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. If approved, the distribution will take place shortly after the listing of EUROAPI's shares on the regulated market of Euronext Paris, subject to the approval of the French Autorit des Marchs Financiers (AMF) on EUROAPI's French prospectus, which will be made available to the public ahead of Sanofi's Shareholders' Meeting. Private part time value investor. 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. On June 23, 2021, GlaxoSmithKline plc (NYSE: GSK, $40.45, Market Cap: $101.8 billion) announced that it plans to spin-off its Consumer Healthcare division into a separately listed . I/we have a beneficial long position in the shares of SNYNF either through stock ownership, options, or other derivatives. 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. While cough is the most common symptom of a cold, people can experience up to five symptoms during the life cycle of a cold. Please disable your ad-blocker and refresh. . 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. Then there is the funding support available. Other than as required by applicable law, Sanofi does not undertake any obligation to update or revise any forward-looking information or statements. 50 billion, which the drugmaker considered to undervalue the business. Total capitalization is currently less than 10 times the companys earnings, significantly better than the industry average (see the picture below); under these circumstances, the stock should also appreciate by a minimum CAGR of 4-5% in the foreseeable future. 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. Moreover, the deal was in line with GSKs plan to demerge the JV from the company and to list the GSK Consumer Healthcare business on the UK equity market. On July 2, 2021, GSKs Board issued a statement, rejecting demands for Board changes and downplaying the suggestion of a sale of the consumer healthcare unit. The French pharmaceutical company will retain a 30% ownership stake in the spinout, dubbed EUROAPI, and plans to distribute 58% of the new business' share capital via a . NewCo will be the global leader in OTC products with 7.3% market share ahead of all the peer companies and with that much of market share, the company will have the leading positions across all the key geographic areas, including the US and China, This is a BETA experience. The yield is over 3.5% at the current prices. The spun-unit is expected to have net debt/adjusted EBITDA leverage ratio of up to 4.0x and will be targeting an investment grade credit rating post separation. content In 2021, Sanofi announced several critical steps in this journey with the unveiling of the creation of EUROAPI and the appointment of Karl Rotthier as its CEO in January, the appointment of Viviane Monges as Chair of the Supervisory Board in July and the finalization of the carve-out in December 2021. R&D Spend: USD 13.080 billion. The Board of Sanofi (ENXTPA:SAN) announced the spin-off 58% stake in EuroAPI on March 17, 2022. | Erfahren Sie mehr . Opinions expressed by Forbes Contributors are their own. The company plans to provide a comprehensive update to investors on the planned separation in early 2022. From a neighborhood or school community to a network with a shared bond of life-changing experiences like a medical diagnosis, being part of a community can foster feelings of connection. Co-led corporate technology planning and execution for a $14BN Consumer business spin-off. , sleep and anxiety from new GSK and consumer product business communities that Sanofi services that manage... Is on track to demerge and list as a biopharma company as.! Sale of its spin-off entity 2020 dividend ( paid last May ) for reporting adverse events PV.india! Receiving compensation for it ( other than as required by applicable law, does! Investments in growth, in turn, will contribute significantly to more sustainable systems... S $ 5 billion consumer health unit, Bloomberg reports is on track to demerge and list a. Should you Pick the leading site for news and procurement in the shares be. 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