Abstract
The French drug company Sanofi says it will create a new contract manufacturing firm composed of six of its European active pharmaceutical ingredient (API) production sites. Sanofi plans an initial public offering for the firm on the Euronext Paris stock exchange by 2022. The new company will rank as the world’s second-largest API maker, with about $1.1 billion in annual sales, according to Sanofi. The Swiss firm Lonza is generally considered the largest API producer. Sanofi says the company will bolster European supply of APIs and “help in balancing the industry’s heavy reliance on API sourced from the Asian region.” It will include Sanofi sites in England, France, Germany, Hungary, and Italy and will employ 3,100. Sanofi says it plans to hold a 30% stake in the new company. “This new entity would be agile as a standalone company, and able to unlock its growth potential, especially in capturing new
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