Sanofi Spins Off an Industry-Leading Business

Sanofi's (NASDAQ: SNY) long-running transition from a traditional big pharma to a focused developer of new drugs took another big step forward on Tuesday, when it chose Euroapi as the official name of its active pharmaceutical ingredient (API) manufacturing spinoff.

Euroapi will hit the ground running with a portfolio of more than 200 APIs and annual sales expected to reach $1.2 billion in 2022. In the highly fractured industry for APIs, Euroapi will be the top-ranked manufacturer of small-molecule APIs and the world's second-largest API manufacturer overall.

Image source: Getty Images.

Continue reading

Source Fool.com