Global healthcare major Sanofi (NASDAQ:SNY) is looking to spin off its India consumer unit, according to the Economic Times.
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Reportedly, the company has already begun the process to take its India consumer unit public by the way of a demerger. The unit has marquee brands such as Combiflam, Depura, and Allegra under its portfolio.
Sanofi owns 60% of the consumer unit with the rest held by its subsidiary Hoechst Gmbh. Further, the company has roped in Bank of America for the transaction.
Sanofi shares have been on a tear, rising nearly 38% over the past six months. At the same time, the company has a healthy price-to-earnings multiple of 15.6 alongside a return on equity of 11%.
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