2021-01-12 08:38:12 SNY Sanofi
01/12/21 01/1208:38 01/12/2108:38 | Sanofi says IPO on Euronext Paris for European API company evaluated for 2022Sanofi announced it has chosen "EUROAPI" as the name for the future European company dedicated to the development, production and marketing of active pharmaceutical ingredients, or API, which "will represent the 'made in Europe' API state-of-the-art industrial capabilities and technologies, with approximately EUR 1B in expected sales by 2022. It will rank number 1 in small molecules API, and number 2 on the global API market," according to Sanofi. The project announced by Sanofi in February 2020, consists of creating a standalone company which will combine Sanofi's API commercial and development activities with six of its European production sites. Sanofi also announces the appointment of Karl Rotthier, who was most recently the CEO of Centrient Pharmaceuticals, as the EUROAPI future CEO, effective January 18. "Karl will lead the creation of EUROAPI together with the new company Management Team towards its growth ambitions. EUROAPI will employ 3,200 skilled employees and be headquartered in France. A planned IPO on Euronext Paris would be evaluated with a decision expected by 2022, subject to market conditions," Sanofi stated. |
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