Sanofi preps API spin­off for Paris ex­change list­ing, share­hold­ers reap div­i­dend

Two years af­ter the com­pa­ny spun out its phar­ma­ceu­ti­cal in­gre­di­ent op­er­a­tions, Sanofi is list­ing the API com­pa­ny on the Paris stock ex­change.

Sanofi ex­pects to hold a 30% stake in EU­ROAPI once the list­ing is com­plete, the com­pa­ny said on Fri­day. The EU­ROAPI board of di­rec­tors unan­i­mous­ly pro­posed to sub­mit 58% of shares to share­hold­ers, ac­cord­ing to the an­nounce­ment.

The deal is sub­ject to ap­proval at a May 3 share­hold­ers meet­ing. The move comes amid a broad Sanofi cor­po­rate re­brand, with 6,000 jobs cut, a pruned pipeline and a re­vamped lo­go and brand im­age. In a Feb­ru­ary in­ter­view with End­points News, a Sanofi spokesper­son men­tioned that the drug in­gre­di­ents busi­ness would be teased for an IPO, as long as the mar­ket con­di­tions al­lowed it. How­ev­er, be­cause of volatile mar­ket con­di­tions con­nect­ed to the Russ­ian in­va­sion of Ukraine, al­ready-ex­ist­ing Sanofi share­hold­ers will re­ceive an ad­di­tion­al cash div­i­dend. The com­pa­ny would have pre­ferred to go with an IPO be­cause it’s the more es­tab­lished val­ue gen­er­a­tor, a com­pa­ny spokesman told End­points Fri­day, but de­cid­ed that this was the safest way to go con­sid­er­ing the state of the mar­ket.

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