Sanofi revises financial statements without Opella amid controversy
- Sanofi released revised financial statements on December 6, 2024, excluding its Opella operations.
- This revision follows a plan to transfer a controlling stake in Opella to CD&R, categorizing its business as discontinued.
- The adjustments reflect Sanofi's strategic pivot towards being a focused, science-driven biopharma company.
On December 6, 2024, Sanofi announced the availability of revised financial statements reflecting its transition towards a focused biopharma company. This revision comes after a previous press release on October 21, 2024, regarding the planned transfer of a 50% controlling stake in its consumer healthcare division, Opella, to CD&R. The new financial statements, which have been reviewed by auditors, now classify Opella’s business as discontinued operations. This is in alignment with Sanofi's strategic pivot to enhance its science-driven model. The adjustments apply retroactively to previous quarters of 2024 and allow comparisons to financial data from 2023. From Q4 2024 onwards, profits or losses from Opella will be reported under "Net income/(loss) from discontinued operations" in Sanofi’s income statement. Sanofi is poised to publish its Q4 2024 results, which exclude Opella, on January 30, 2025, showcasing the company's commitment to its new strategic direction while ensuring transparency in its financial reporting. The classification as discontinued operations signifies a crucial step in refining the company’s focus as it navigates through the complexities of biopharmaceutical market demands, aiming to streamline its operations for future growth.