The name is EuroAPI
Big Pharma giant Sanofi has revealed that the name of its new subsidiary in third party API manufacture, as originally announced in February 2020, will be EuroAPI. It has also recruited Karl Rotthier from Centrient Pharmaceuticals, formerly DSM Sinochem, to be CEO. “
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 stated.
EuroAPI is a stand-alone company, headquartered in France and employing 3,200, with a commercial network in more than 80 countries. It combines Sanofi’s API commercial and development activities with six European production sites at: Brindisi, Italy; Frankfurt Chemistry, Germany; Haverhill, UK; St Aubin les Elbeuf and Vertoloaye, France; and Újpest in Hungary.
From company estimates based on comparison with data published in annual reports of major API companies, EuroAPI will rank number one in small molecules APIs and number two on the global API market, with some 200 different large-volume and niche APIs.
Expected sales are about €1 billion in 2022, by when an IPO is planned on Euronext Paris, subject to market conditions. Sanofi intends to retain a minority stake of around 30%. It “intends the new company to be debt-free in order to maximise its future investment capacities”, according to Philippe Luscan, EVP of global industrial affairs.