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The Board of Directors of Sanofi India Limited (SIL) has approved the Scheme of Arrangement as per applicable provisions of the Companies Act, 2013, and other applicable laws, between SIL and its wholly owned subsidiary Sanofi Consumer Healthcare India Limited (SCHIL) to demerge SIL’s consumer healthcare business into a legal entity, i.e., SCHIL, subject to approval by shareholders and regulators upon incorporation of SCHIL.
This decision will open new gates for the India business and employees in a value-driven move to accelerate growth for both the pharmaceuticals business (SIL) and consumer healthcare business (SCHIL) in India.
In the rest of the world as well as in India, implementing the global standalone organisation of the consumer healthcare (CHC) business within Sanofi is the best platform to unleash its growth potential.
The proposed standalone consumer health company in India will be equipped by way of portfolio, specific global skills, consumer-centric mindset to truly evolve as a Fast-Moving Consumer Healthcare company.
Similarly, the General Medicines business will focus on its long-term success factors, expanding its life-changing treatment portfolio available in the country, driving world class scientific healthcare professional (HCP) engagement, expanding the reach of its brands, and accelerating its digital transformation.
Upon completion of the proposed demerger, Sanofi will continue to own 60.4% stake in both entities and Sanofi India Limited shareholders will receive 1:1 SCHIL equity share of Rs 10 each, for each equity share owned.
