Sanofi Chooses Name and CEO for New European API Mfg Company
Sanofi has chosen the name EUROAPI for its new European company dedicated to the development, production and marketing of active pharmaceutical ingredients (APIs).
Sanofi announced the formation of the standalone company in February 2020. The new company will provide “made in Europe” API industrial services and technologies company. The new company combines Sanofi’s API commercial and development activities with six of its European production sites: Brindisi, Italy; Frankfurt, Germany; Haverhill, UK; St. Aubin les Elbeuf, France; Vertolaye, France; and Újpest, Hungary. Sanofi will support the new company by establishing a long-term customer relationship with EUROAPI and holding a minority stake of approximately 30% in it.
Sanofi says it expects the new manufacturing company to bring in EUR 1 billion ($1.1 billion) in sales by 2022 and that the standalone company will rank number one in small-molecule APIs and number two in the global API market. The new company will have a portfolio of 200 APIs. Sanofi says that the new European company will help balance “the industry’s heavy reliance on API sourced from other regions.”
Karl Rotthier, CEO Centrient Pharmaceuticals, a Rotterdam, the Netherlands-based manufacturer of intermediates and APIs, has been named as EUROAPI’s CEO, effective January 18, 2021. EUROAPI will employ 3,200 employees and be headquartered in France. A planned initial public offering on Euronext Paris would be evaluated with a decision expected by 2022, subject to market conditions.