Sanofi India on May 10 announced the demerger of its consumer healthcare business, which houses brands like Allegra, Combiflam, DePURA and Avil. The entity will be called Sanofi Consumer Healthcare
India Limited (SCHIL).
"Separation of the pharmaceutical and consumer healthcare businesses will allow the company and the resulting company to have independent and focused management as well as independently pursue different opportunities," as per the company's press release.
The turnover of the consumer healthcare segment for the year ended 31st December, 2022 was approximately Rs 728 crore, which is 28 percent of the total turnover.
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Upon completion of the proposed demerger, the global parent Sanofi will continue to own a 60.4 percent stake in both entities and Sanofi India Limited shareholders will receive 1 SCHIL equity share of Rs 10 per each, for each equity share owned.
"The proposed CHC entity will be a fast-moving consumer healthcare business which enables consumer-centric strategies, shapes the OTC (over the counter) environment, and focuses on best-in-class digital and e-commerce capabilities," Rodolfo Hrosz, managing director, Sanofi India said.
At 2:45 pm, the stock was quoting at Rs 5,671.60 on the NSE, higher by 1.77 percent from the previous close.
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