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Sanofi (SNY) Beats on Q3 Earnings, to Spin-Off Consumer Unit

Sanofi (SNY) beats third-quarter estimates for earnings but misses the same for sales. It announces plans to separate its Consumer unit into a new public listed company.

Sanofi Plans Spin-Off of Consumer Business, Lowers Profit Outlook

The French drugmaker’s shares dropped more than 15% Friday morning on the announcement that it has abandoned its goal of a 32% operating profit margin for 2025, focusing on long-term profitability.

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