SNY - Sanofi Goes The Rival Way: Plans Separation Of Consumer Healthcare Unit | Benzinga
Sanofi SA (NASDAQ: SNY) plans to spin off its consumer healthcare business as the French pharmaceutical company outlined its strategic update to increase investment in its drug-development pipeline and cut costs.
Sanofi said the spin-off would allow it to increase its focus on innovative medicines and vaccines.
The separation is expected to occur by Q4 2024 by creating a publicly listed entity headquartered in France.
The consumer-healthcare business employs some 11,000 people.
"Sanofi is reviewing potential separation scenarios but believes that the most likely path would ...