(Reuters) – French drugmaker Sanofi said on Friday it was considering a separate listing of its Consumer Healthcare business from the fourth quarter of next year, as it seeks to boost development new drugs.
“Sanofi is studying possible separation scenarios, but believes that the route most likely to be taken would be that of an operation on the capital markets through the creation of a listed company whose headquarters would be in Paris,” Sanofi said in a statement.
The timetable aims to maximize value creation and reward Sanofi shareholders and the operation will be subject to consultation with social partners, Sanofi indicates.
The pharmaceutical group also warned that its adjusted earnings per share (EPS) from activities in 2024 will be “roughly stable” compared to 2023 levels, due to the increase in research and development expenses and a higher tax rate.
This decline would be followed by a strong rebound in activity EPS growth in 2025.
In the third quarter, Sanofi reported a 10.4% drop in operating profit from activities to 4.028 billion euros, slightly below the average analyst estimate of 4.1 billion euros compiled by the group.
The company confirmed that it expects an increase of around 5% in its activity EPS in 2023, excluding currency effects.
(Report by Ludwig Burger; by Mariana Abreu, edited by Blandine Hénault)
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