This, in turn, will contribute significantly to more sustainable healthcare systems. The net debt/adjusted EBITDA leverage ratio is expected be less than 2x. Following recent nonexecutive leadership additions, GSK is planning further appointments, prior to the separation to increase biopharmaceuticals and scientific experience for New GSK. Roche. The companys Board intends to create two new independent Boards following the separation. investor.relations (at) sanofi.com. 2021 position: 10. esgSubNav, Discover more about S&P Globals offerings. J.P. Morgan & Cie S.A.S. According to the letter, GSK should review its leadership and remain open to a sale of the consumer healthcare business. The outcome of a chemical reaction between stubborn, passion, and resilience.<br><br>I started my professional journey in arts and ended up working in marketing few years after graduating from college, I became a marketing strategist, now I have +12 Years of experience in the marketing field, leading regional-based positions in a huge expectrum of business units. 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. 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The profit growth will be supported by new vaccines and specialty drugs, and improved operational performance. Start Now! Visit our privacy policy for more information about our services, how we may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications. She is particularly interested in stories about AI, antibiotic resistance, and global health equality. 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 . Physical and Mental Wellness. The New Co. (Consumer Healthcare) will have a portfolio of products with annual sales of ~10 billion in FY20 and is well-positioned for further growth, driven by well known brands, including nine power brands with category leadership and major sales presence in the US and China. In financial year 2020, STADA achieved group sales of EUR 3,010.3 million and adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) of EUR 713.3 million. Elliott has a history of advocating changes in underperforming businesses in the healthcare sector. Please contact the Global Headquarters in France . 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. Bad Vilbel, Germany. Moreover, the failure to come out with a COVID-19 vaccine despite being one of the largest vaccine producers, may have led to investor disappointment. "As discussed during our Capital Markets Day in February, simplifying the CHC product portfolio is an important part of our strategy to focus our resources and efforts where we can bring the most value, especially to consumers. 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. Rx Sales: USD 49.293 billion. The company plans to provide a comprehensive update to investors on the planned separation in early 2022. 14 February 2023. We offer a broad range of digestive solutions that work on relieving heartburn, improving liver performance and indigestion and managing diarrhea and constipation. The combined business is operated globally as GSK Consumer Healthcare. It is provided for information only. The process has already been initiated to form a Board of Directors for the NewCo, which will include a mix of skills and experience to represent and maximize value for shareholders. 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've been managing my personal funds since May 2008.As stocks are just pieces of businesses I try to look at mine with an enterpreneurial approach: that's why my portfolio is made-up by 6-8 holdings, which I follow costantly. Chief Science Officer for Consumer Healthcareon International Self-Care Day 2022. 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. 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, https://www.sanofi.com/en/investors/contact. The new head of the business Julie Van Ongevalle has unveiled a wide-ranging turnaround plan with the goal of transforming Sanofi into the OTC market leader. Detail: Visit URL Category: Business View Health Julie Van Ongevalle Con un plantel de unos 3.350 empleados, Sanofi espera que el spin-off tenga ventas consolidadas de alrededor de 1.000 millones durante el ao fiscal 2022. At CER, the growth was 15.3% and 5.3% respectively. Disclosure: I/we have a beneficial long position in the shares of SNYNF either through stock ownership, options, or other derivatives. The move will allow Johnson & Johnson to focus on its pharmaceutical and medical device divisions. Haleon emerges from GSK consumer healthcare spin-off. The consensus recommendation is Strong Buy, based on a survey of 18 . It will lead to the creation of a consumer health giant with a market share of 7.3 percent, well ahead of its nearest rivals Johnson & Johnson, Bayer and Sanofi, all on around 4 percent. Its worth mentioning that the favorable mix shift will produce better returns, as CH and general medicines have obviously smaller margins. By downloading this Whitepaper, you acknowledge that we may share your information with our white paper partners/sponsors who may contact you directly with information on their products and services. The company could also monetize the stake and bolster its balance sheet. The pharmacological and medical device division maintains J & J's name, and the corporation expects a tax-exempt spin-off. 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. without the spin-off) from 2022, following anticipated lower growth in 2021 due to currency weaknesses and . 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. 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. Builds strategic relationships, both internally . The split, J&J said, would create two global leaders that are better positioned to deliver improved health outcomes for patients and consumers. Sanofi. 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. Private part time value investor. Market Intelligence with a decision due by the end of the year. 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. I have developed a broad set . However, if the consumer division no longer holds the deep pockets of the combined company, the risk of future consumer product litigation such as the large talc settlement may decrease.. Launched in June 2020 by the French government, French Tech Souverainet is an investment envelope managed by Bpifrance, with both proactive and defensive vocation. The leading site for news and procurement in the pharmaceutical industry. In addition to the previously proposed 3.33 cash dividend per Sanofi share, this additional extraordinary dividend, exclusively in kind, is subject to shareholders approval at Sanofi's May 3, 2022 Ordinary and Extraordinary Shareholders' Meeting. This press release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, as amended. Take a look at highlights from our portfolio of self-care products. With this focused attention from management, the consumer-health spin-off enjoyed a relatively smooth path to independence and a successful public listing. Partnered with business leaders to facilitate the Retired after 24+ year career with J&J. Nicolas Obrist|+ 33 6 77 21 27 55 |nicolas.obrist@sanofi.com, Investor Relations In the EU, the total cost of absenteeism and presenteeism associated with allergies ranges from 55-151 billion annually. Self-care relieves a burden on healthcare providers, saving 1.8 billion hours of physicians time globally. Paris-based Sanofi is reportedly considering either a joint venture or a sale of its consumer healthcare division. I have no business relationship with any company whose stock is mentioned in this article. content Then there is the funding support available. Any material effect of COVID-19 or recent armed conflicts on any of the foregoing could also adversely impact us. 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. I believe that, nowadays, pharmaceutical companies should make up a significant portion of an equity portfolio and, right now, Sanofi is one of the safest to invest in. 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. "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.". 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. <br><br>Driven, passionate and enthusiastic professional with high levels of integrity, who achieves business results through leading and coaching others and engaging key stakeholders. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address. The Consumer Healthcare unit had two major deals in 2018, when GSK acquired Novartis' 36.5% stake in its consumer healthcare joint venture (JV) followed by a merger with Pfizer's consumer healthcare business into a JV. Analysts agree that JAZZ is one of the best healthcare stocks out there. The new Primary Care unit was to focus on mature markets. Sanofi shareholders will receive one EUROAPI share for 23 shares held in . An initial public offering (IPO) of the unit, which could be worth around $30 billion according to two sources familiar with the matter, is also on the cards. (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. The French pharma giant first announced its intentions to spin off the API business in February.The plan, as the company said at the time, would combine Sanofi's API . 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 . Expertise: drug development , healthcare consumer product development , business innovation , business transformation , biotech and pharma operations , start-up set up & operations , transnational medicine , medical affairs , KOLs , IND , NDA , IVD , 510k , digital health , strategic planning , licensing , technology transfer , business development , regulatory staging. I have no business relationship with any company whose stock is mentioned in this article. 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. The units revenue grew by 3% at constant exchange rates in 2018 to $5.21 billion. 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. The new head of the division, Julie Van Ongevalle, shared that the company will focus on core brands and categories while pursuing first-in-class Rx-to-OTC switches in the ED and flu categories in the U nited States. As part of restructuring efforts, GSK and Pfizer merged its consumer healthcare business with that of in 2019. Despite volatile market conditions, Sanofi has decided to move forward with the listing process of EUROAPI. I/we have a beneficial long position in the shares of SNYNF either through stock ownership, options, or other derivatives. 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. For medical information: medinfo.india@sanofi.com , customercare. It is provided for information only. The transaction is expected to close in Q3-2021, subject to approval of relevant regulatory authoritiesand other customary closing conditions. In the past, many pharmaceutical companies have divested slower-growth, lower margin and non-core or off-patent businesses to focus on their core business. GSK is a research-based healthcare company, focused on developing, manufacturing, and marketing of human healthcare products. Sanofi Forward-Looking Statements 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. They are the essential molecules used in the composition and manufacture of any medicine. This is the reason why earnings grew by 5.2% YoY in Q1, despite the reported top-line slowdown. The company has also claimed that some of its major shareholders support the spin-off deal. Looking ahead, Sanofi forecast double-digit growth in 2022 EPS at constant exchange rates. Morningstar analyst Damien Conover said: The firms timing is surprising, as we dont see any major catalyst for the move. You may opt-out by. 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. As of 31 December 2020, STADA employed 12,301 people worldwide. While GlaxoSmithKline boasts a higher dividend yield at 5.4% than Sanofi's 3.6%, Sanofi . It operates through three business segments Pharmaceuticals, Vaccines and Consumer Healthcare. With Paul Hudson, Chief Executive Officer The company expects to announce a strategic plan in December. 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. All rights reserved. However, some risks remain, as the management must speed up the execution of the planned spin-offs and address the growth issue. Combined, J&J projects the two segments will tally $77 billion in 2021 revenue. 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. There has been intense speculation on the part of analysts and investors on whether Sanofi would divest or spin off its consumer healthcare unit. The companys management has justified the decision for a spin-off over other alternatives such as a sale (as suggested in Elliotts letter). There is speculation in the investor, healthcare and consumer product business communities that Sanofi . 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 . If it does choose to divest consumer health, Sanofi will join a growing number of its peers in the industry. The Board of Sanofi (ENXTPA:SAN) completed the spin-off 58% stake in EuroAPI on May 6, 2022. If you wish to continue to this external website, click Proceed. STADA Arzneimittel AG is headquartered in Bad Vilbel, Germany. Our high-quality products are available in more than 5,780 pharmacies. 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. Sanofi moves forward with EUROAPI listing on Euronext Paris. With sales of about $1B per year, the newly formed company can easily be the largest API player in the European Union. Globally, self-care saves people around 11 billion hours. Separately, the Board supported Walmsley to lead the new GSK post separation and expressed confidence in the management to deliver performance improvement and long-term shareholder value creation through their actions. GlaxoSmithKline (GSK) and Johnson & Johnson are setting their consumer health businesses . As previously announced, under the terms of the transaction, Pfizer owns a 32% equity stake in the joint venture and GSK owns 68%. 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. | As part of an overall cost-cutting strategy, Sanofi is selling off chunks . We provide potentially life-changing treatment options and life-saving vaccine protection to millions of people globally, while putting sustainability and social responsibility at the center of our ambitions. Therefore, investors should approach this investment with a long-term mindset. 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. On the other hand, the remaining part is progressing nicely. . The yield is over 3.5% at the current prices. The falling revenue contribution from Pharmaceuticals (FY20: 50%, 2016: 58%) contrasts with the rising revenue contribution from vaccines (FY20: 21%, 2016: 16%) and consumer healthcare (FY20: 29%, 2016: 26%). Persimmon Shares Tank 11%, Builder Becomes FTSE 100s Biggest Faller. An IPO could come as soon as 2022. Sanofi assumes no responsibility for the information presented on this website. The corporation said it would complete the split in 18 to 24 months at a cost of $ 500 billion to $ 1 billion. Just months later, the company penned a deal with fellow pharma leader GlaxoSmithKline (GSK) to combine their two consumer health companies into one joint entity with an estimated 9.8bn in annual sales. Global markets live: GM, Pfizer, Exxon, UBS, Boeing EUROAPI Announces Resignation of Corinne Le Goff as an Independent Member on the Board .. Any distribution of the Shares may be subject to specific legal or regulatory restrictions in certain jurisdictions. 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. Further details regarding the specifics of the distribution, including the parity, and the timetable of the spin-off will be set forth in EUROAPIs French prospectus. 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. > Add the event to my calendar, An in-depth look at our vaccines business, strategy and roadmap through to 2025/2030, We chase the miracles of science to improve peoples lives and to transform the practice of medicine, Please contact the Global Headquarters in France : GSK, its consumer health spin-off Haleon, and Sanofi could be on the hook for billions of dollars in potential damages over Zantac, a gastrointestinal drug pulled from the market in 2020 after it . 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. commercializing best-seller drugs. It was the world's second largest manufacturer of APIs (including both small and large molecules such as peptides and oligonucleotides) in 2021 and number seven in the global CDMO (Contract Development and Manufacturing Organization) market in 20201. A critical question in most spin-offs is how to allocate talent, since every company naturally wants to retain its best people, especially amid great change. 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. Is this happening to you frequently? | Erfahren Sie mehr . The firm demanded that before the planned separation, non-executive directors with extensive biopharmaceuticals and consumer healthcare experience be added to GSKs Board. They are talking to investment banks about options but have not taken a decision., Sanofis Hudson indicated last month that the company planned to evaluate every divisions performance and decide where to focus its resources. 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. "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. Merck sold its consumer business to Bayer AG in 2014 for $14.2 billion. The Board of Sanofi (ENXTPA:SAN) announced the spin-off 58% stake in EuroAPI on March 17, 2022. Media Relations The move by the world's largest health products company follows similar announcements by conglomerates Toshiba General Electric, as well as J&J rivals, and underscores how big . When Sanofi unveiled plans to spin off its European active pharmaceutical ingredient (API) unit back in early . The unit's revenue grew by 3% at constant exchange rates in . Q3-2021, subject to approval of relevant regulatory authoritiesand other customary closing conditions operational.! Will tally $ 77 billion in 2021 revenue on mature markets net debt/adjusted EBITDA leverage ratio is to! On the other hand, the consumer-health spin-off enjoyed a relatively smooth path independence! 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Are intended for corporate subscribers and you warrant that the email address & P Globals offerings that... Sales of about $ 1B per year, the consumer-health spin-off enjoyed a relatively smooth path to independence and successful. Remain open to a sale of its major shareholders support the spin-off 58 % stake in EUROAPI on 6! Indigestion and managing diarrhea and constipation at highlights from our portfolio of self-care products corporation. Damien Conover said: the firms timing is surprising, as the management must speed the... Ahead, Sanofi forecast double-digit growth in 2022 EPS at constant exchange rates in 2018 to 5.21! Our portfolio of self-care products announced the spin-off deal ; J projects the segments! A relatively smooth path to independence and a successful public listing the consumer-health enjoyed! Leading site for news and procurement in the Private Securities Litigation Reform Act of 1995, the... 58 % stake in EUROAPI on May 6, 2022 operated globally as consumer. 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