Sanofi Forms Standalone Consumer Healthcare Unit: Prelude To Spin-Off?
Sanofi Consumer Healthcare is to operate as a standalone unit in a move which is being viewed as a prelude to a potential spin-off. High profile prescription-to-OTC switches are a priority for the revamped business.
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Sanofi's participation in the OTC market could end as early as next year with its plan to completely separate from its Consumer Healthcare business.
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. “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 compelling.” The move came as Sanofi Consumer Healthcare reported a strong end to 2022, with Q4 sales up by 6.6% at constant exchange rates to €1.22bn.
Greater flexibility, a higher tolerance to risk, longer investment time-lines and access to a wider pool of next generation talent are some of the benefits to consumer health businesses when separating from their pharma parents, according to IQVIA Consumer Health.