Sanofi is reviewing options for the potential split, but said the most likely course would be a “capital markets transaction” to form a separately listed company based in France. The move could occur as soon as the fourth quarter of 2024, it said in astatement Friday.
With the step, Sanofi would join the ranks of big pharma peers GSK Plc, Novartis AG, Pfizer Inc. and Johnson & Johnson, all of which have split off their consumer health divisions in recent years to free up resources for developing nextgeneration therapies for cancer, rare diseases and other ailments.
Bloomberg News first reported in 2019 that Sanofi was considering options for the consumer health arm, saying it could be worth $30 billion.
The French drugmaker said that separating from the business will allow it to generate better longterm value from cutting-edge therapies, particularly in immunology or in vaccines.