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Sanofi Seeks Independence For API Unit Despite Stormy Market

IPO Plans Shelved In Favor Of Spin-Off

 
• By Kevin Grogan

The French drugmaker is pushing ahead with a listing of its Euroapi business on the Euronext in the next couple of months, in spite of the turbulence that the Russian invasion of Ukraine has brought to stock markets.

Vertolaye
Workers at the Vertolaye site • Source: Euroapi

A couple of years after spinning out its active pharmaceutical ingredient (API) manufacturing business, Sanofi is now ready to list the standalone unit, called Euroapi, despite highly volatile market conditions.

In February 2020, the company set out its ambition to create a powerhouse API company by pooling the activities of six of its production sites: Brindisi (Italy), Frankfurt Chemistry (Germany),...

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