Sanofi gains 3% after rising 8% a day post demerger announcement

Continuing its market rally post the demerger news of consumer healthcare business, Sanofi India shares were trading as much as 3% higher on BSE during intraday trade. The company stock was trading 3.07% higher at 6415 on BSE at 1:17 pm.

Sanofi India’s board announced the demerger of its consumer healthcare business. The separated business will be a fully-owned subsidiary of the company. The demerged company will be named as Sanofi Consumer Healthcare India Limited.

Sanofi’s consumer healthcare business includes a wide range brands like Allegra, Combiflam, DePURA , Avil, and others. The company posted a 20.1 per cent decline in its net profit to 190.4 crore in Q4 FY23 against a net profit of 238.4 crore in the corresponding quarter in FY22.

The revenue from operations increased by 4.2 per cent to Rs736.5 crore in March quarter from 707 crore during the same quarter a year ago.

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