Sanofi CEO still considering how to split consumer biz, hopes to keep a stake

By Michael Erman

NEW YORK (Reuters) – Sanofi (NASDAQ:SNY) Chief Executive Paul Hudson (NYSE:HUD) said on Monday that the company has not made a final decision yet on how it plans to split off its Opella consumer healthcare unit, but that it is interested in keeping a stake in the business after the separation is done.

“I’m encouraged by the level of interest in the business,” Hudson said in an interview.

Sanofi has said it is considering a spin-off, initial public offering or sale of the unit. Hudson said there’s more value to be created with the company being independent and run by executives with more focus on the consumer healthcare sector.

“The impression we’re getting is it’s a good business, and it has a lot of potential … I would like us to participate in that upside. With the right sort of environment around it, it can flourish. Why would we not stay involved and take that benefit?”