SANOFI unveils EUROAPI as the name of the new industry leading
European API* company and appoints Karl Rotthier as its future
Chief Executive Officer
SANOFI unveils EUROAPI as the name of the new
industry leading European API* company and appoints Karl Rotthier
as its future Chief Executive Officer
- The new company1 will be the largest API player in the European
Union, with approximately €1 billion in expected sales by 2022
- Karl Rotthier joins Sanofi as EUROAPI Chief Executive Officer
and further lead the creation of this new Europe-based industry
champion
- EUROAPI will help securing significant API manufacturing and
supply capacities that are critical for patients in Europe and
beyond
- An IPO on Euronext Paris will be evaluated for 2022 - subject
to market conditions
Paris – January 12th, 2021 -
Sanofi chooses EUROAPI as the name for the future leading European
company dedicated to the development, production and marketing of
active pharmaceutical ingredients (API).
EUROAPI will represent the “made in Europe” API
state-of-the-art industrial capabilities and technologies, with
approximately €1 billion in expected sales by 2022. It will rank
number 1 in small molecules API, and number 2 on the global API
market2. Addressing recent increasing medicine shortages that
critically impact patient care, EUROAPI will ensure additional API
supply capacities for Europe and beyond, and help balancing the
industry’s heavy reliance on API sourced from other regions.
Sanofi also announces the appointment of Karl
Rotthier as the EUROAPI future Chief Executive Officer, effective
January 18th. Karl Rotthier, 53 years old, is a seasoned leader
with a strong API business experience. He was most recently the
Chief Executive Officer of Centrient Pharmaceuticals, and had the
opportunity throughout his 29-years international career in the
Netherands, Germany, Austria, Belgium and Singapore, to also drive
operational carve-outs and spin-offs.
Karl will lead the creation of EUROAPI together
with the new company Management Team towards its growth ambitions.
EUROAPI will employ 3,200 skilled employees and be headquartered in
France. A planned IPO on Euronext Paris would be evaluated with a
decision expected by 2022, subject to market
conditions.
Philippe Luscan, Executive Vice President,
Global Industrial Affairs at Sanofi, said: “We are very pleased
today to unveil EUROAPI and welcome Karl to lead this future
industry champion, as it gives further substance to our ambitious
project. Sanofi is fully committed to the new company’s success,
including by establishing a long-term customer relationship with
EUROAPI and holding a minority stake of approximately 30% in it. To
provide the optimal conditions for success, Sanofi intends the new
company to be debt free in order to maximize its future investment
capacities.”
Karl Rotthier, future CEO of EUROAPI emphasizes:
“I am particularly delighted to join EUROAPI and look forward to
working with my colleagues in creating an agile, stand-alone
company, able to unlock its growth potential in a market
sustainably growing at a pace of 6% per year3. Building on a strong
industrial legacy built over decades and broad expertise and
experience, EUROAPI would help secure a greater stability in
supplying quality drugs to millions of patients worldwide.”
The project announced by Sanofi in February
2020, consists of creating a standalone company which will combine
Sanofi’s API commercial and development activities with six of its
European production sites: Brindisi (Italy), Frankfurt Chemistry
(Germany), Haverhill (UK), St Aubin les Elbeuf (France), Újpest
(Hungary) and Vertolaye (France). EUROAPI will have significant
competitive strengths, including a broad portfolio of 200 APIs with
both volume and niche products, high standards of quality and
industrial means, competitive pricing and technologies across
Europe, and will leverage an extensive commercial network covering
more than 80 countries.
*About Active Pharmaceutical Ingredients
(API)
Active pharmaceutical ingredients or APIs are
the chemicals or biologicals which have a beneficial therapeutic
effect in a medicine. These are the essential molecules used in the
composition and the production of any drug.
About Sanofi Sanofi is dedicated to
supporting people through their health challenges. We are a global
biopharmaceutical company focused on human health. We prevent
illness with vaccines, provide innovative treatments to fight pain
and ease suffering. We stand by the few who suffer from rare
diseases and the millions with long-term chronic conditions.
With more than 100,000 people in 100 countries, Sanofi is
transforming scientific innovation into healthcare solutions around
the globe. Sanofi, Empowering Life |
Media Relations Contact Ashleigh Koss Tel: +1
(908) 981-8745Ashleigh.Koss@sanofi.com
Quentin VivantTel.: +33 (0)1 53 77 46 46 mr@sanofi.com
Investor Relations Contacts Paris Eva
Schaefer-Jansen Arnaud DelepineYvonne Naughton
Investor Relations Contacts North America Felix
LauscherFara BerkowitzSuzanne Greco IR main line:Tel.: +33
(0)1 53 77 45 45 investor.relations@sanofi.com |
https://www.sanofi.com/en/investors/contact
Forward-Looking
Statements
This press release contains forward-looking
statements as defined in the Private Securities Litigation Reform
Act of 1995, as amended. Forward-looking statements are statements
that are not historical facts. These statements include projections
and estimates and their underlying assumptions, statements
regarding plans, objectives, intentions and expectations with
respect to future financial results, events, operations, services,
product development and potential, and statements regarding future
performance. Forward-looking statements are generally identified by
the words “expects”, “anticipates”, “believes”, “intends”,
“estimates”, “plans” and similar expressions. Although Sanofi’s
management believes that the expectations reflected in such
forward-looking statements are reasonable, investors are cautioned
that forward-looking information and statements are subject to
various risks and uncertainties, many of which are difficult to
predict and generally beyond the control of Sanofi, that could
cause actual results and developments to differ materially from
those expressed in, or implied or projected by, the forward-looking
information and statements. These risks and uncertainties include
among other things, the uncertainties inherent in research and
development, future clinical data and analysis, including post
marketing, decisions by regulatory authorities, such as the FDA or
the EMA, regarding whether and when to approve any drug, device or
biological application that may be filed for any such product
candidates as well as their decisions regarding labelling and other
matters that could affect the availability or commercial potential
of such product candidates, the fact that product candidates if
approved may not be commercially successful, the future approval
and commercial success of therapeutic alternatives, Sanofi’s
ability to benefit from external growth opportunities, to complete
related transactions and/or obtain regulatory clearances, risks
associated with intellectual property and any related pending or
future litigation and the ultimate outcome of such
litigation, trends in exchange rates and prevailing interest
rates, volatile economic and market conditions, cost containment
initiatives and subsequent changes thereto, and the impact that
COVID-19 will have on us, our customers, suppliers, vendors, and
other business partners, and the financial condition of any one of
them, as well as on our employees and on the global economy as a
whole. Any material effect of COVID-19 on any of the
foregoing could also adversely impact us. This situation is
changing rapidly and additional impacts may arise of which we are
not currently aware and may exacerbate other previously identified
risks. The risks and uncertainties also include the uncertainties
discussed or identified in the public filings with the SEC and the
AMF made by Sanofi, including those listed under “Risk Factors” and
“Cautionary Statement Regarding Forward-Looking Statements” in
Sanofi’s annual report on Form 20-F for the year ended December 31,
2019. Other than as required by applicable law, Sanofi does not
undertake any obligation to update or revise any forward-looking
information or statements.
1 Subject to consultation with social partners and works
councils
2 Source: company estimates based on comparison with data
published in annual reports of major API companies
3 Source: Future growth estimate based on expert interviews and
Technavio Report “Active Pharmaceutical Ingredients
Market by Manufacturing Type and
Geography – Forecast and Analysis 2020-2024”, Dec. 2019
Sanofi (EU:SAN)
Historical Stock Chart
From Mar 2024 to Apr 2024
Sanofi (EU:SAN)
Historical Stock Chart
From Apr 2023 to Apr 2024