The pharmaceutical company Sanofi is following its competitors and planning to spin off its consumer healthcare business into a listed company.
As the French company announced on Friday, the spin-off will be part of a strategic update that includes increased investments in its pipeline and a savings plan. Sanofi wants to focus on prescription drugs.
Competitor GSK had already listed its over-the-counter medicines and health products division on the London Stock Exchange. The new company operates under the name Haleon.
On EURONEXT Paris, Sanofi shares are currently trading 0.55 percent lower at 100.46 euros.
PARIS (Dow Jones)
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