Sanofi to Form New Company With Focus on Active Pharmaceutical Ingredients
January 12 2021 - 9:29AM
Dow Jones News
By Cecilia Butini
Sanofi SA said Tuesday that it is creating a new company that
will focus on active pharmaceutical ingredients and go by the name
of Euroapi.
The French pharmaceutical giant said the new company--which will
focus on the molecules that give a drug its therapeutic effect--is
poised to be the largest European player in the sector. It is
expected to generate 1 billion euros ($1.22 billion) in sales by
2022, Sanofi said.
An initial public offering for the company on Euronext Paris
will be evaluated for 2022, Sanofi said.
Euroapi's chief executive officer will be Karl Rotthier,
effective as of Jan. 18. The company will employ 3,200 skilled
employees and will have its headquarters in France, according to
Sanofi.
Sanofi's stake in Euroapi will be 30%, said Philippe Luscan,
executive vice president of global industrial affairs at the
pharmaceutical giant.
Write to Cecilia Butini at cecilia.butini@wsj.com
(END) Dow Jones Newswires
January 12, 2021 09:14 ET (14:14 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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