Oct 27 (Reuters) – Sanofi (SASY.PA) on Friday mapped out a potential separate listing of its consumer healthcare business from the fourth quarter of next year, as it plans to shore up new drug development spending at its core business.
The French group’s consumer business, which was put on course to be run on its own in late 2019, had 2022 sales of 5.1 billion euros ($5.4 billion), up 8.6%, with brand brands including Mucosolvan cough syrup, Allegra allergy treatments Buscopan against abdominal pain.
The following are similar recent transactions, or situations, at peers.
- Consumer products maker Kenvue (KVUE.N) was spun off from Johnson & Johnson (JNJ.N) on May 4, 2023.
With $15 billion in net sales in 2022, it is the world’s largest pure-play consumer health company by revenue. It owns brands such as Tylenol, Band-Aid and Listerine, spanning categories including pain killers, skin creams, menstrual hygiene, oral products and sunscreens.
- Rival Haleon (HLN.L) was spun off by GSK (GSK.L) and Pfizer (PFE.N) on July 18 2022. It had 2022 sales of 10.9 billion pounds ($13.2 billion).
Its main focus is on over-the-counter drugs, such as Otrivin nasal decongestant and Voltaren against joint pain. About 42% of sales come from toothpaste and other oral products as well as from dietary supplements such as vitamins and minerals.
- Bayer (BAYGn.DE), led by new CEO Bill Anderson since June, has faced calls by several investors to sell or spin off its Consumer Health business but has not announced such plans.
Accounting for about 12% of group revenue, that unit had 6.08 billion euros in 2022 sales, up 14.9%. Brands include Claritin allergy relief, pain killers Aspirin and Aleve as well as Afrin nasal decongestant.
- In a further transaction by a major drugmaker honing in exclusively on developing innovative drugs, Novartis (NOVN.S) spun off generic and biosimilar drugs business Sandoz (SDZ.S) on Oct. 4.
- The new company, with $9.2 billion in 2022 sales, was initially valued at a lower-than-expected 10.3 billion Swiss francs ($11.2 billion) on its stock market debut.
($1 = 0.9473 euros)
Reporting by Ludwig Burger; editing by David Evans
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