A significant turning point in Sanofi Consumer Healthcare’s history as an independent company has been reached with the company’s successful listing on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE). This comes after Sanofi India’s demerger of the company, which was carried out in accordance with the Scheme of Arrangement. On June 1, 2023, the demerger went into effect after being allowed by the National Company Law Tribunal’s Mumbai bench.
Now that it is an autonomous organization, SCHIL will only concentrate on the consumer healthcare market. This action is consistent with Sanofi’s larger worldwide goal to split off its consumer healthcare division in order to establish a specialized business that is better equipped to respond to the market’s changing healthcare demands. The company intends to take advantage of the enormous and rapidly expanding consumer healthcare industry in India, which presents a great opportunity for growth. Products from SCHIL’s portfolio span a number of categories, including multivitamins, allergy treatment, digestive wellness, and pain management, and they are marketed under well-known names including Allegra, DePURA, Avil, and Combiflam.
Sanofi Consumer Healthcare’s managing director, Himanshu Bakshi, expressed hope for the company’s future while pointing out that SCHIL’s market position is strengthened by its listing on both the BSE and NSE. He stressed that the company’s goal is to enable customers to take charge of their health and simplify self-care. Bakshi claims that the listing will help SCHIL carry out its long-term growth plan by enabling it to grow and innovate in the Indian market.
This change is in line with Sanofi’s larger goal of improving access to self-care options, particularly in a region where consumer healthcare is quickly changing like India. The company’s independence is anticipated to enable quicker decision-making and a more flexible approach to meeting market demands, especially in areas where demand is rising, such pain treatment and allergy relief.
Sanofi Consumer Healthcare, which is well-established in the Indian consumer healthcare market, hopes to take advantage of its wide range of products to satisfy the rising demand for over-the-counter (OTC) drugs. It is expected that this action will spur additional expansion and solidify SCHIL’s standing as a pioneer in the Indian consumer healthcare sector.
SOURCE :
TIMES OF INDIA
