Last February, Sanofi announced plans to spin off an API company that would become the biggest pharma ingredients provider in Europe. Now the company has a name.
Dubbed EUROAPI, the company is aiming for $1.2 billion in sales by 2022. Sanofi also projects that the company, which will be headquartered in France, “will rank number 1 in small molecules API, and number 2 on the global API market.
EUROAPI was launched to help secure Europe’s supply of critical pharma ingredients. Sanofi plans to own a 30 percent stake in the company and be one of its customers. Sanofi says that the company will also use “state-of-the-art industrial capabilities and technologies.”
Read the press release.
