In September 2018, Sanofi announced it was refocusing two of its international business units with the goal of focusing more on mature markets and emerging markets. Paris, March 18 2022. Sanofi's CDMO spinoff set for next month as new group targets 2022 revenues of 1B. 2021 position: 10. GSK is a research-based healthcare company, focused on developing, manufacturing, and marketing of human healthcare products. Colds are one of the most common illnesses experienced by both adults and children. We are an innovative global healthcare company, driven by one purpose: we chase the miracles of science to improve peoples lives. Moreover, the remaining 20% stake in the spun-off unit post deal completion offers GSK with the opportunity to benefit from strong performance at the spun-off unit. Media Relations Post separation, the stub unit will operate as a biopharma company concentrated on specialty medicines and vaccines, while the spin-off unit will focus on category-leading power brands. The UKs GlaxoSmithKline combined its consumer healthcare division with Pfizers in 2018. "We don't worry about what the other companies do, we worry about what we're doing and we're pleased with what's going on in our consumer business.". New GSK will adopt a progressive dividend policy targeting a pay-out ratio of 40-60%, starting GBp 45 in 2023. 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. . Please disable your ad-blocker and refresh. Earlier this month, Sanofi announced a new strategic vision for its Consumer Healthcare division. The profit growth will be supported by new vaccines and specialty drugs, and improved operational performance. 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%). This, in turn, will contribute significantly to more sustainable healthcare systems. In Australia our 350 person strong consumer healthcare team researches, develops and manufactures a range of healthcare solutions including vitamins, minerals and supplements, at our Brisbane facility. And Scottish universities have a track record of securing UK funding. Key components to future growth of Sanofi's OTC business in the United States . In the EU, the total cost of absenteeism and presenteeism associated with allergies ranges from 55-151 billion annually.2. 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 companys operations are currently divided in four parts: The first two divisions actually appear to be in good shape, showing a healthy growth. 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 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. 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. 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. . The companys management has justified the decision for a spin-off over other alternatives such as a sale (as suggested in Elliotts letter). * This saved time would otherwise be spent on unnecessary waiting, travel and consultations in primary care or emergency department settings. Notice to holders of American Depositary Receipts (ADRs) Real-time Euronext Paris Forward-looking statements are generally identified by the words expects, anticipates, believes, intends, estimates, plans and similar expressions. "Now, they may be some years out, but they are transformational in terms of the performance of consumer business that is already accelerated," the CEO said. 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. 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. Johnson & Johnson, Bayer and Sanofi, according to Reuters, are close competitors in the consumer healthcare market. Cowen's 43rd Annual Health Care Conference With Bill Sibold, EVP, Specialty Care & Frank Nestle, Global Head of Research, Chief Scientific Officer > Add the event to my calendar In 2018, Pfizer split itself into three business units after failing to sell off its consumer health segment. If you wish to continue to this external website, click Proceed. As of 31 December 2020, STADA employed 12,301 people worldwide. The largest part of Sanofis business is not growing. Job alerts. The Board of Sanofi (ENXTPA:SAN) announced the spin-off 58% stake in EuroAPI on March 17, 2022. 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. I have no business relationship with any company whose stock is mentioned in this article. Any material effect of COVID-19 or recent armed conflicts on any of the foregoing could also adversely impact us. "We're going to build an industry-leading and sustainable pipeline," the CEO said. The company expects a strong drug pipeline, backed by strong research and development expenses to drive sustainable, long-term growth for the pharmaceutical business. Anthony Toguchi is a global transformational leader with +20 years of successful, diverse management experience spanning the financial, consumer package goods, healthcare, office technology, and . "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 . 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. Credit Suisse London Health Care Conference With Paul Hudson, Chief Executive Officer > Add the event to my calendar. If you wish to continue to this external website, click Proceed. As a health journey partner, we aim to empower consumers to live healthier and fuller healthier lives through a full range of holistic pain management solutions. 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. Sanofi Offloads 16 Consumer Health Brands Health 9 hours ago Web As part of its quest to streamline consumer healthcareand eventually spin off the unit as a standalone businessSanofi will offload 16 consumer . investor.relations@sanofi.com, France:+ 33 1 53 77 45 45 |U.S.:+ 1 908 981 5560. 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. "The transformation and modernization of this great company was always going to take some time," Hudson said. Although Sanofis management believes that the expectations reflected in such forward-looking statements are reasonable, investors are cautioned that forward-looking information and statements are subject to various risks and uncertainties, many of which are difficult to predict and generally beyond the control of Sanofi, that could cause actual results and developments to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. 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. | 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 . 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. We project annual organic growth of 4% on a going-concern (GC) basis (i.e. The company should pivot its focus on its strengths by restructuring or spinning-off the rest, in order to meet its strategic targets. 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). 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. In the last five years, through the Biotechnology and Biological Sciences Research Council and Medical Research Council, 13% (450m) of all UK funding has gone to universities in Scotland. The earnings report showed what GSK called "strong sales" in its biopharma and consumer healthcare operations, to the tune of 7.1 billion British pounds (about $8.9 billion) and 2.6 billion . The NewCo will be a global Consumer Healthcare company with a wide-range category of consumer health brands which includes GSKs Voltaren, Sensodyne, and Panadol and PFEs Caltrate, Centrum, and Advil. 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. 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. When Sanofi unveiled plans to spin off its European active pharmaceutical ingredient (API) unit back in early . 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. Sanofi is listed on EURONEXT: SAN and NASDAQ: SNY. 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. Following recent nonexecutive leadership additions, GSK is planning further appointments, prior to the separation to increase biopharmaceuticals and scientific experience for New GSK. Based in Paris, France, Sanofi stands in the upper ranks of the world's top 10 pharmaceutical companies based on revenue. Pfizer Inc. (NYSE: PFE) today announced the closing of its joint venture with GlaxoSmithKline plc (NYSE: GSK) to combine the parties' respective consumer healthcare businesses to create the world's largest over-the-counter (OTC) business with robust iconic brands. Sanofi exchanged its Merial animal drugs business with Boehringers over-the-counter (OTC) drugs businessbasically, Sanofi picked up Boehringers consumer health business. "It's very significant, we are really reallocating our cost base towards innovation on science," the CFO said. This situation is changing rapidly and additional impacts may arise of which we are not currently aware and may exacerbate other previously identified risks. Additionally, the oncology division is experiencing a strong momentum, with Sarclisa and Libtayo bringing a 25% growth rate. 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. When it lists on the Lon . Again, the sooner the better. Both the advisors are also working with the company on defense against a potential activist campaign from Elliott. 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. 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 . Combined, J&J projects the two segments will tally $77 billion in 2021 revenue. 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. The net debt/adjusted EBITDA leverage ratio is expected be less than 2x. Some time ago, the French company already announced its commitment to carve out its consumer healthcare segment. Notice with a decision due by the end of the year. I have developed a broad set . Active Pharmaceutical Ingredients (APIs) are the chemical or biological substances in a medicine that have a therapeutic effect. Esta no es la primera vez que Sanofi proyecta una escisin. 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. Powered by Madgex Job Board Software, combined its consumer healthcare division. 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. Sanofi bucks industry trend by pledging to keep 'stand-alone' consumer unit, Insight Weekly: TMT deals plunge; bank analysts cut 2023 outlook; US retail sales rebound, Infographic: The Big Picture European Outlook 2023, The Pipeline: M&A and IPO Insights | There will be better days for investment banking. Published: Nov 21, 2019 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 company. About STADA Arzneimittel AG Darcy Jimenez is a healthcare reporter for Pharmaceutical Technology and Pharma Technology Focus magazine, covering drug research, development, production and regulation. 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. 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. Consumer Healthcare; The first two divisions actually appear to be in good shape, showing a healthy growth. 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. My holding period is ideally "forever", even though I can't exclude to make some changes from time to time. | Erfahren Sie mehr . 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 . Merck sold its consumer business to Bayer AG in 2014 for $14.2 billion. 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. In addition, GSK is continuing with the restructuring and active portfolio management of its consumer-health division ahead of the spin-off, expected by late 2022. 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. 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. Sanofi. The transaction with STADA ensures that these products will continue to be available to consumers. Haleon emerges from GSK consumer healthcare spin-off. Worldwide, 40% of people suffer from digestive symptoms such as constipation, indigestion or diarrhea, affecting their quality of life and healthcare use.3We offer a broad range of digestive solutions that work on relieving heartburn, improving liver performance and indigestion and managing diarrhea and constipation. Jones Day (France) acted as legal advisors to Sanofi. The listing will also help GSK increase its focus on its drug pipeline. All rights reserved. Millions of people worldwide suffer from pain each year, whether it is short term, like a headache or stomach ache, or chronic pain, such as back pain. While GlaxoSmithKline boasts a higher dividend yield at 5.4% than Sanofi's 3.6%, Sanofi . 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. All rights reserved. +33 (0)1 53 77 40 00, 46 avenue de la Grande Arme 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 . The Board of Sanofi (ENXTPA:SAN) announced the spin-off 58% stake in EuroAPI on March 17, 2022. Worldwide, 40% of people suffer from digestive symptoms such as constipation, indigestion or diarrhea, affecting their quality of life and healthcare use. This press release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, as amended. ", latest-news-headlines 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 . Please contact the Global Headquarters in France . Private part time value investor. Neither Sanofi nor EUROAPI assumes any responsibility for any violation of any such restrictions by any person. 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. 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. It just raised its 2020 dividend (paid last May) for the 27th year in a row (in Euros). 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. Detail: Visit URL Category: Business View Health 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. 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. This is the reason why earnings grew by 5.2% YoY in Q1, despite the reported top-line slowdown. The consensus recommendation is Strong Buy, based on a survey of 18 . About 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.. Also help GSK increase its focus on its drug pipeline GC ) basis i.e! Company already announced its commitment to sanofi consumer healthcare spin off out its consumer business to Bayer in! 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