Sanofi is considering releasing an active pharmaceutical ingredients company
Oliver Bogillot, Sanofi’s French CEO, announced that the vaccine's price would be €10 or less. Despite the announcement, he iterated the fact that the final price hadn't been set yet.
Besides the price, the Sanofi plans to list its active pharmaceutical ingredients (API) company publicly. The initial public offering is scheduled to happen in the following months, and the new business could be valued at up to €2billion.
It is the embodiment of a plan touted in February, through which Sanofi will create a standalone company by reuniting under the same roof its commercial and development activities and the power of its six European production sites.
According to Sanofi, the move would balance the industry's reliance on Asia for ingredients, which lately has been disrupted by the pandemic. The drugmaker said that it is taking into consideration a 2022 Euronext Paris listing. If it does it, the new API would be the second-largest in the world after the Swiss Lonza.
Following the news, Sanofi stock price gained 2%.
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Sources: marketwatch.com, finance.yahoo.com