Sanofi will spin out consumer unit, putting weight behind R&D efforts: ‘I have to invest in the science now’
Sanofi plans to spin out its consumer health unit and refocus the company’s R&D work, joining the bet made by other large drugmakers in recent years that the next wave of medical advances will require more focus and resources to bring to market.
As part of the move, Sanofi plans to find about €2 billion ($2.1 billion) across its business and then reinvest those savings back into research, the French drugmaker announced Friday. Those cuts will take place between 2024 and 2025, and the consumer unit will likely be spun out as an independent French company as soon as the end of next year.
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