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Sanofi To Create European Company To Provide Active Pharmaceutical Ingredients

Sanofi (SNYNF,SNY) plans to create a new European company to provide active pharmaceutical ingredients or API, which are the essential molecules responsible for the beneficial effects used in the composition of any drug.

The project consists of creating a standalone company which would combine Sanofi's API commercial and development activities with six of its European API production sites : Brindisi (Italy), Frankfurt Chemistry (Germany), Haverhill (UK), St Aubin les Elbeuf (France), Újpest (Hungary) and Vertolaye (France).

It is expected that the new company would generate about 1 billion euros of sales by 2022. It is expected to include 3,100 skilled employees and to be headquartered in France. A planned IPO on Euronext Paris would be evaluated with a decision expected by 2022.

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