Sanofi API Unit Expects $1bn Sales By 2022
New API Company Will Cut European Reliance On Asian Raw Materials
Sanofi has announced plans to create the world’s second-largest API manufacturer to help ease European drugmakers’ dependence on supplies of raw materials from China and India.
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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.”
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.
Sanofi has unveiled further details of its European API company, which will be called Euroapi and will be led by Karl Rotthier as CEO.