Sanofi Reveals Details Of European API Business
Euroapi Company To Be Led By Karl Rotthier; IPO Planned For 2022
Sanofi has unveiled further details of its European API company, which will be called Euroapi and will be led by Karl Rotthier as CEO.
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French giant Sanofi is potentially just days away from seeing its standalone Euroapi API business – in which it is set to hold a 30% stake – listed on the Euronext Paris bourse. Euroapi’s management has stressed that it “offering highly differentiated APIs, which require scale in production with efficient processes.”
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.
Weaknesses in the global pharmaceutical supply chain, exposed and exacerbated by the coronavirus pandemic, have led major markets to pursue localization policies aimed at bolstering domestic production capacity. But any significant transformation promises to take many years.