2023-10-27 16:48:35
After announcing that it wanted to sell its consumer drugs, Sanofi fell on the stock market.
The French pharmaceutical group Sanofi announced this Friday its intention to spin off its consumer health business in 2024 to focus on innovative drugs and vaccines. The production of very common drugs such as Doliprane, Mucosolvan, Novanuit, etc. is affected by this announcement. Products which represent more than a billion euros, or around 10% of Sanofi’s turnover. The group hopes to focus on innovation, particularly on the anti-flu vaccine.
Results below expectations
Except that… By publishing its results this Friday, the French group revealed results lower than expectations in the third quarter. As a result, Sanofi’s stock fell by nearly 19% on the Paris Stock Exchange, its worst session in decades. A fall accentuated by the reduction of its financial objectives to implement its strategic plan.
If the sale of Beyfortus ( once morest bronchiolitis, in high demand by parents and hospitals) exceeded expectations, those of flu vaccines did not reach the expected figures.
Sanofi is the fifth French company in terms of market capitalization.
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