By Adria Calatayud

Sanofi said it plans to spin off its consumer-healthcare unit into a publicly listed entity, making it the latest pharmaceutical giant to sharpen its focus on prescription medicines by offloading adjacent businesses.

The French company said Friday that the spinoff is part of a strategic update that includes increased investment in its pipeline and a cost-savings plan.

Write to Adria Calatayud at adria.calatayud@dowjones.com

(END) Dow Jones Newswires

October 27, 2023 01:52 ET (05:52 GMT)

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