Worldwide, STADA Arzneimittel AG sells its products in approximately 120 countries. In addition to the previously proposed 3.33 cash dividend per Sanofi share, this additional extraordinary dividend, exclusively in kind, is subject to shareholders approval at Sanofi's May 3, 2022 Ordinary and Extraordinary Shareholders' Meeting. If you wish to continue to this external website, click Proceed. I have no business relationship with any company whose stock is mentioned in this article. In addition to the previously proposed 3.33 cash dividend per Sanofi share, this additional extraordinary dividend, exclusively in kind, is subject to shareholders approval "We've already doubled the value of that pipeline in just 24 months, but it must continue. Therefore, investors should approach this investment with a long-term mindset. Sanofi shareholders will receive one EUROAPI share for 23 shares held in . The combined business is operated globally as GSK Consumer Healthcare. "If the GlaxoSmithKline Consumer Health spinoff goes well, we believe it is likely that Sanofi could spin off its consumer health business as well, which is a reasonable extension of the internal separation that is ongoing," HSBC analyst Steve McGarry said in a Nov. 1 note. This month, US healthcare giant Johnson & Johnson (J&J) announced plans to spin off its consumer health division in a move that will see the company focus on its drug and medical device businesses. Welcome to Sanofi Consumer Healthcare. We recognize that allergies can be challenging and symptoms such as itchy eyes, sneezing and a runny nose can be a burden to getting on with everyday life. "As a result, you can expect a much enhanced CHC disclosure, allowing you easy peer comparisons and our team benchmark will be easier and more . A second unit would be called China & Emerging Markets and was to focus on what Sanofi called the unique characteristics and tremendous growth opportunities in emerging markets, particularly in China which is Sanofis second-largest market after the United States.. Partnered with business leaders to facilitate the Retired after 24+ year career with J&J. 1 Companys estimate based on third-party market research conducted using the annual reports published by the main industrial players in the APIs sector, public databases (including Capital IQ and Orbis) as well as interviews with market experts. "It's very significant, we are really reallocating our cost base towards innovation on science," the CFO said. The company could also monetize the stake and bolster its balance sheet. The company expects a strong drug pipeline, backed by strong research and development expenses to drive sustainable, long-term growth for the pharmaceutical business. Brentford, U.K.-based GSK, meanwhile, will spin out its consumer unit by mid-year, after turning down three bids from consumer goods giant Unilever PLC reaching 50 billion, which the drugmaker considered to undervalue the business. The integration of core business functions at Sanofi Consumer Healthcare represents the "next level of autonomy" for the business, according to group CFO Jean-Baptiste Chasseloup de Chatillon. There are certain watershed moments in every person's life that propel them to find a community. Sanofi Pharma; Sanofi Genzyme; Sanofi Pasteur; Our data sharing commitments; Managed Access Programs (MAPs) . commercializing best-seller drugs. Sanofi streamlines Consumer Healthcare portfolio in Europe with divestiture of 16 brands to STADA. When it lists on the Lon . The company, which is facing some notable patent expirations in the coming few years, has announced a plan to spin off its consumer healthcare business in 2023. Published: Nov 21, 2019 In 2021, Sanofi announced several critical steps in this journey with the unveiling of the creation of EUROAPI and the appointment of Karl Rotthier as its CEO in January, the appointment of Viviane Monges as Chair of the Supervisory Board in July and the finalization of the carve-out in December 2021. Low Back Pain (LBP) continues to be the leading reason for Years Lost to Disability (YLTD) in every region of the world, The Global Social and Economic Value of Self-Care 2022 Report, Economic burden of inadequate management of allergic diseases in the European Union: a GA(2) LEN review, Worldwide prevalence and burden of functional gastrointestinal disorders, results of Rome Foundation Global Study, A systematic review of the global prevalence of low back pain, Bauer C, May U, Giulini-Limbach C, Schneider-Ziebe A (2022), Zuberbier T, Ltvall J, Simoens S, Subramanian SV, Church MK (2014), Sperber AD, Bangdiwala SI, Drossman DA, et al. The digestive system provides energy and fuel for the whole body, so when someone suffers from gastro intestinal disorders, their life can literally be put on hold. Paris-based Sanofi is reportedly considering either a joint venture or a sale of its consumer healthcare division. The largest part of Sanofis business is not growing. Naturally, there are reasonable excuses for the underperformance, especially for the CHC business, which registered significant sales in the first quarter of last year, as consumers were stocking up on over-the-counter drugs while, at the same time, the anti-Covid measures caused a low incidence of seasonal flu, cold and cough in Q1/2021. Sanofi shareholders will receive one EUROAPI share for 23 shares held in the parent company, and Sanofi plans to keep a 30% stake in EUROAPI. However, net sales took a dive in Q1, declining by roughly 4.6% YoY (reported). Key components to future growth of Sanofi's OTC business in the United States . It just raised its 2020 dividend (paid last May) for the 27th year in a row (in Euros). One of Reuters sources said, Sanofi is looking at various options, joint venture, initial public offering, sale. Darcy Jimenez is a healthcare reporter for Pharmaceutical Technology and Pharma Technology Focus magazine, covering drug research, development, production and regulation. Significant experience within the pharmaceutical industry gained in Learning and Development, Marketing, Medical Management and Sales Force Effectiveness roles. GSK is a research-based healthcare company, focused on developing, manufacturing, and marketing of human healthcare products. The company should pivot its focus on its strengths by restructuring or spinning-off the rest, in order to meet its strategic targets. Sanofi is a diversified global healthcare leader, focused on developing products that meet the health needs of people. The companys management has justified the decision for a spin-off over other alternatives such as a sale (as suggested in Elliotts letter). (Just Now) WebOn June 23, 2021, GlaxoSmithKline plc (NYSE: GSK, $40.45, Market Cap: $101.8 billion) announced that it plans to spin-off its Consumer Healthcare division into a separately listed company. By clicking the Download Free Whitepaper button, you accept the terms and conditions and acknowledge that your data will be used as described in the Scotland Health Tech privacy policy. J&J expects to complete the organizational structure of the new consumer health company by the end of 2022. (Photo by Ben STANSALL / AFP) (Photo by BEN STANSALL/AFP via Getty Images). Sanofi is offering its animal health unit Merial in exchange for Boehringer's consumer health, or non-prescription drugs, business plus 4.7 billion euros ($5.2 billion) in cash in exclusive . without the spin-off) from 2022, following anticipated lower growth in 2021 due to currency weaknesses and . Drawing on more than 150 years of experience in the growing API market, EUROAPI has a network of six production sites, all of which are located in Europe, and delivers around 200 APIs to approximately 530 customers in over 80 countries. Analysts agree that JAZZ is one of the best healthcare stocks out there. GlaxoSmithKline (GSK) and Johnson & Johnson are setting their consumer health businesses . Sanofi CEO's strategy blueprint may include consumer health spinoff or merger: Bloomberg | Fierce Pharma . Today marks a major milestone for EUROAPI, a leading European company dedicated to the development, production and marketing of active pharmaceutical ingredients* (API), as Sanofis Board of Directors unanimously proposed, on March 17th, to submit to its shareholders the distribution of circa 58% of the share capital of EUROAPI. Patents; Patient Support Services; Resources for Healthcare Providers; Colorado Disclosure; Vermont Disclosure; Our Responsibility. The joint venture was then spun off and listed separately. The new Primary Care unit was to focus on mature markets. The CEO's review of the consumer unit coincided with a trend for pharmaceutical giants like Johnson & Johnson and GlaxoSmithKline PLC to simplify their diversified structures and double-down on lucrative franchises, such as cancer and rare disease, driven by pioneering science, data and technological advances. Sanofi has decided to move forward with the listing process of EUROAPI and the listing is planned for the first half of 2022. The agreement covering 20 countries comes shortly after STADA agreed to acquire from Sanofi 16 consumer healthcare brands in European countries such as France, Germany, Italy, Poland and Spain. Sanofi's CDMO spinoff set for next month as new group targets 2022 revenues of 1B. McGarry cited the potential for this spinoff, combined with a spinout of Sanofi's pharmaceutical ingredients business that Hudson said is expected "in just a few months," as reasons for upgrading stock in the Paris-based drugmaker to a "buy.". "As discussed during our Capital Markets Day in February, simplifying the CHC product portfolio is an important part of our strategy to focus our resources and efforts where we can bring the most value, especially to consumers. ALTUVIIIO approved by the U.S. FDA: this positive event triggers impairment reversal, positively impacting 2022 IFRS net income; no change on business net income (non-IFRS), Press release: New Phase 3 data presented at WORLDSymposium reinforce Nexviazyme (avalglucosidase alfa) as potential new standard of care for all people living with late-onset Pompe disease, Media Update: New data for tolebrutinib, Sanofis investigational brain-penetrant BTK inhibitor, showed significant effect on CNS immune mediators that driveMS disease progression, Investigator Sponsored Studies and Externally Sponsored Collaboration, Access to Quality Healthcare Sanofi Global Health, Contributing to the eradication, elimination and control of some infectious diseases, Serving the needs of patients with non-communicable diseases, Development opportunity: how Sanofi empowers you, Credit Suisse London Health Care Conference, With Paul Hudson, Chief Executive Officer, Cowens 43rd Annual Health Care Conference, With Bill Sibold, EVP, Specialty Care & Frank Nestle, Global Head of Research, Chief Scientific Officer. GSK cited the opportunity cost from the immense profit and cash generation potential of the consumer healthcare unit as well as higher expenses in the form of taxes in case of a sale as compelling reasons for the spin-off. EUROAPI develops, manufactures, markets and distributes APIs and intermediates used in the formulation of medicines for human and veterinary use, both from originators and generics, through its API Solutions business and CDMO activities. Sanofi is listed on EURONEXT: SAN and NASDAQ: SNY. Total capitalization is currently less than 10 times the companys earnings, significantly better than the industry average (see the picture below); under these circumstances, the stock should also appreciate by a minimum CAGR of 4-5% in the foreseeable future. investor.relations (at) sanofi.com. By 2026, cash generated from operations for New GSK is expected to exceed 10 billion. Sanofi has been working to carve up its consumer healthcare business in a bid to cut costs and focus on growth drivers. About STADA Arzneimittel AG +33 (0)1 53 77 40 00, 46 avenue de la Grande Arme Because your health starts with you, we are committed to providing self-care solutions to allow you to better manage your personal well-being. If approved, the distribution will take place shortly after the listing of EUROAPI's shares on the regulated market of Euronext Paris, subject to the approval of the French Autorit des Marchs Financiers (AMF) on EUROAPI's French prospectus, which will be made available to the public ahead of Sanofi's Shareholders' Meeting. Prioritization will become increasingly important going forward, Hudson told reporters. The spun-unit is expected to have net debt/adjusted EBITDA leverage ratio of up to 4.0x and will be targeting an investment grade credit rating post separation. Media Relations The consumer arm comprised of million- and billion-dollar brands and offering products such as mouthwash, shampoo, and skincare will form a new publicly traded company in the next 18 to 24 months. We provide potentially life-changing treatment options and life-saving vaccine protection to millions of people globally, while putting sustainability and social responsibility at the center of our ambitions. Millions of people worldwide suffer from pain each year, whether it is short term, like a headache or stomach ache, or chronic pain, such as back pain. The risks and uncertainties also include the uncertainties discussed or identified in the public filings with the SEC and the AMF made by Sanofi, including those listed under Risk Factors and Cautionary Statement Regarding Forward-Looking Statements in Sanofis annual report on Form 20-F for the year ended December 31, 2021. Other commercial successes in J&Js pharma portfolio include inflammatory disease therapy Stelara, which reaped $7.7bn in revenue last year; monoclonal antibody Darzalex for the treatment multiple myeloma; lymphoma and chronic graft-versus-host disease drug Imbruvica, developed with AbbVie; and antibody-based plaque psoriasis treatment Tremfya. The consensus recommendation is Strong Buy, based on a survey of 18 . The pharmacological and medical device division maintains J & J's name, and the corporation expects a tax-exempt spin-off. The move has been in the works for several months. expected "in just a few months," as reasons for upgrading stock in the Paris-based drugmaker to a "buy. You may opt-out by. Post transaction, Sanofi confirms that it will hold circa 30% of the share capital and voting rights of EUROAPI and will remain a long-term strategic partner, supporting EUROAPIs growth ambitions as an independent company over the coming years. Transaction is expected to close on May 6, 2022. For July 2022 GlaxoSmithKline [GSK.L] set the scene for one of the biggest listings in . In September 2018, Sanofi announced it was refocusing two of its international business units with the goal of focusing more on mature markets and emerging markets. <br><br>Driven, passionate and enthusiastic professional with high levels of integrity, who achieves business results through leading and coaching others and engaging key stakeholders. The firm created a new subsidiary to deal with the talc-related litigation, before filing for the new companys bankruptcy in an attempt to block claims for damages from those who say J&Js baby powder damaged their health. The company operates in three major business segments, Pharmaceuticals, Vaccines and Consumer Healthcare. The deal increased Sanofis consumer healthcare market share to about 4.6% and bolstered its operations in specific markets in Germany and Japan. "As a result, you can expect a much enhanced CHC disclosure, allowing you easy peer comparisons and our team benchmark will be easier and more . Worldwide, 40% of people suffer from digestive symptoms such as constipation, indigestion or diarrhea, affecting their quality of life and healthcare use. Anyway, it is not nave to think that, at the moment, this company has a few problems that must be addressed. *About Active Pharmaceutical Ingredients (APIs) French Tech Souverainets investment is subject to approval of the spin-off by Sanofis shareholders and other customary conditions. Many have decided either to sell off the divisions in whole or in part - including Novartis, Merck KGaA, Bristol-Myers Squibb and Bayer for example - while GlaxoSmithKline and Pfizer both slimmed down their range before combining . "We're going to build an industry-leading and sustainable pipeline," the CEO said. I've been managing my personal funds since May 2008.As stocks are just pieces of businesses I try to look at mine with an enterpreneurial approach: that's why my portfolio is made-up by 6-8 holdings, which I follow costantly. By Anthony King 2022-07-18T12:22:00+01:00. . However, it looks like that les grandes manoeuvres, aimed at the realization of this project, will proceed at a slow speed. Sanofi moves forward with EUROAPI listing on Euronext Paris. Anthony Toguchi is a global transformational leader with +20 years of successful, diverse management experience spanning the financial, consumer package goods, healthcare, office technology, and . From a neighborhood or school community to a network with a shared bond of life-changing experiences like a medical diagnosis, being part of a community can foster feelings of connection. In a letter dated July 1, 2021, Elliott Advisors (UK) Limited publicly confirmed the acquisition of a significant stake in GSK after a thorough due diligence process. Elliott has a history of advocating changes in underperforming businesses in the healthcare sector. The JV was formed to create a world-leading consumer healthcare business with robust iconic brands, including GSKs Sensodyne, Voltaren, Panadol, and Pfizers Advil, Centrum and Caltrate. Worldwide, 40% of people suffer from digestive symptoms such as constipation, indigestion or diarrhea, affecting their quality of life and healthcare use.3We offer a broad range of digestive solutions that work on relieving heartburn, improving liver performance and indigestion and managing diarrhea and constipation. It is provided for information only. I am encouraged by the organizations early achievements in our efficiency initiatives, which will allow us to further drive innovation in our business., 1985 - 2023 BioSpace.com. Paul Hudson, Sanofis chief executive officer, who took over the reins of the company on September 1, is expected to meet with investors in Cambridge, Massachusetts on December 10. Business is on track to demerge and list as a new company in mid-2022. If you have an ad-blocker enabled you may be blocked from proceeding. Sanofi S.A. is a French multinational pharmaceutical and healthcare company headquartered in Paris, France.Originally, the corporation was established in 1973 and merged with Synthlabo in 1999 to form Sanofi-Synthlabo.In 2004, Sanofi-Synthlabo merged with Aventis and renamed to Sanofi-Aventis, which were each the product of several previous mergers. Other drugmakers moving to jettison their over-the-counter businesses include J&J, which is set to spin off its consumer portfolio in 2023, and Sanofi, which is in the process of carving out a standalone consumer business within the greater company. These risks and uncertainties include among other things Sanofis and EUROAPIs ability to benefit from external growth opportunities, to complete related transactions and/or obtain regulatory clearances, trends in exchange rates and prevailing interest rates, volatile economic and market conditions, cost containment initiatives and subsequent changes thereto, and the impact that COVID-19 and recent armed conflicts will have on us, our customers, suppliers, vendors, and other business partners, and the financial condition of any one of them, as well as on our employees and on the global economy as a whole. Esta no es la primera vez que Sanofi proyecta una escisin. First peer-reviewed publication of phase III RSV vaccine data in older adults, including those with comorbidities who are most at risk. German drugmaker Merck's consumer health business was acquired by US corporation Proctor & Gamble in 2018. Additionally, the oncology division is experiencing a strong momentum, with Sarclisa and Libtayo bringing a 25% growth rate. Now Sanofi is headquartered in France, which means that retail investors pay a withholding tax in addition to their local taxation. I have no business relationship with any company whose stock is mentioned in this article. How management will address them we dont know of course, but here are some likely solutions they may put in place in a relative short time which will act as strong catalysts for Sanofis business. About Sanofi Executive Vice President, Consumer Healthcare, on International Self-Care Day 2022, Self-care activities generate $119 billion in monetary and healthcare workforce savings globally.1, Self-care relieves a burden on healthcare providers, saving 1.8 billion hours of physicians time globally.1, Globally, self-care saves people around 11 billion hours.1*. Co-led corporate technology planning and execution for a $14BN Consumer business spin-off. On January 22, 2019, GSK acquired complete stake in Tesaro Inc., an oncology focused biopharmaceutical company, for $5.0 billion (3.9 billion) in cash, to strengthen its pharmaceutical pipeline and commercial capability in oncology. However, the French dividend tax for foreign individuals amounts to just 12.8%. Sanofi's fourth quarter saw consumer health sales rise 5.6%, driven . Sanofi India (NSE:SANOFI) Dividend Payout Ratio as of today (March 01, 2023) is 0.00. Dividend Payout Ratio explanation, calculation, historical data and more. The yield is over 3.5% at the current prices. Sandrine Guendoul|+ 33 6 25 09 14 25 |sandrine.guendoul@sanofi.com Global Dividends To Hit Fresh Highs In 2023 - Janus Henderson, Lions Gate To Spin-Off Its Studio Business In September 2023, The Show Must Go On: Planning For Succession, Chairman Says Wix To Accelerate To 20% Profitable Growth By 2025, 11 Timeless Lessons From Warren Buffetts Annual Letter Feb 25, 2023. With Bill Sibold, EVP, Specialty Care & Frank Nestle, Global Head of Research, Chief Scientific Officer The last two years have seen plenty of activity from the big players to focus their business: AbbVie, Takeda and Bristol Myers Squibb (BMS) have added to their pharma portfolios with the strategic acquisitions of Allergan, Shire and Celgene respectively. Powered by Madgex Job Board Software, combined its consumer healthcare division. The new head of the division, Julie Van Ongevalle, shared that the company will focus on core brands and categories while pursuing first-in-class Rx-to-OTC switches in the ED and flu categories in the U nited States. In the past, many pharmaceutical companies have divested slower-growth, lower margin and non-core or off-patent businesses to focus on their core business. Therefore, their poor performance affects the overall results: General Medicines declined by 9% and Consumer Healthcare by 14% YoY. "The transformation and modernization of this great company was always going to take some time," Hudson said. The company has also claimed that some of its major shareholders support the spin-off deal. GSK claimed strengthened governance through the appointments of former Bristol-Myers Squibb executive Charles Bancroft and Anne Beal as non-executive directors. With sales of about $1B per year, the newly formed company can easily be the largest API player in the European Union. If you wish to continue to this external website, click Proceed. Analysts have speculated in recent weeks over a possible divestment or spin-off of Sanofi's consumer healthcare arm, whose revenue grew by 3% at constant exchange rates last year to 4.7 billion . Executive Vice President, Consumer Healthcare, on International Self-Care Day 2021. In October, J&J sparked controversy by using a bankruptcy manoeuvre to avoid paying out for the tens of thousands of claims made against it. Investigator Sponsored Studies and Externally Sponsored Collaboration, Access to Quality Healthcare Sanofi Global Health, Contributing to the eradication, elimination and control of some infectious diseases, Serving the needs of patients with non-communicable diseases, Development opportunity: how Sanofi empowers you. Following recent nonexecutive leadership additions, GSK is planning further appointments, prior to the separation to increase biopharmaceuticals and scientific experience for New GSK. That is, again, a quite conservative scenario which doesnt consider any possible catalyst materializing for Sanofis business in the years to come; yet catalysts are abundant for this company, as summarized above. "If the GlaxoSmithKline Consumer Health spinoff goes well, we believe it is likely that Sanofi could spin off its consumer health business as well, which is a reasonable extension of the internal separation that is ongoing," HSBC analyst Steve McGarry said in a Nov. 1 note. Through this transaction, Sanofi is giving its shareholders the opportunity to take part in the success of a leading player in the API market with strong ambitions to become a global champion on a growing and dynamic market, and due to be listed on the regulated market of Euronext Paris. Global markets live: GM, Pfizer, Exxon, UBS, Boeing EUROAPI Announces Resignation of Corinne Le Goff as an Independent Member on the Board .. Executive Summary. Sanofi . The one-shot cervical cancer vaccine paradigm. content The . I wrote this article myself, and it expresses my own opinions. The company focuses on a three-pillar strategy consisting of generics, specialty pharma and non-prescription consumer healthcare products. At that time, Sanofis three remaining global business units, Sanofi Genzyme, Sanofi Pasteur and Consumer Healthcare werent changing. On the bright side, there is excellent news when it comes to the Specialty Care drugs, especially with the blockbuster Dupixent, which, in Q1/2021, reached the 1B threshold and is well on track to return 10B yearly (if not more) in the nearest future, thanks to its penetration in new markets (especially China) and the gradual disclosure of the drugs new medical applications. Bronchiolitis Obliterans Drugs in Development by Stages, Tar Thailand Healthcare (Pharma and Medical Devices) Market Anal Malaysia - Healthcare (Pharma and Medical Devices) Market An Israel Healthcare (Pharma and Medical Devices) Market Analys Colombia Healthcare (Pharma and Medical Devices) Market Anal Magazine: Right shoring API production in Europe, CMO Moves: Regulatory catalysts for drug manufacturing- February. Bad Vilbel, Germany. Investigator Sponsored Studies and Externally Sponsored Collaboration, Access to Quality Healthcare Sanofi Global Health, Contributing to the eradication, elimination and control of some infectious diseases, Serving the needs of patients with non-communicable diseases, Development opportunity: how Sanofi empowers you, https://www.sanofi.com/en/investors/contact. Private part time value investor. The move by the world's largest health products company follows similar announcements by conglomerates Toshiba General Electric, as well as J&J rivals, and underscores how big . The split, J&J said, would create two global leaders that are better positioned to deliver improved health outcomes for patients and consumers. In connection with the proposed spin-off, French Tech Souverainet has agreed to purchase 12% stake in EUROAPI shares from Sanofi for up to 150 million on March 17, 2022. Day by day, evidence shows that vaccines will be much needed in order to fight Covid outbreaks, even in 2022, and, despite my first cold expectations, the financial margins for them seem to be substantial, although there could eventually be an excess in authorized vaccines, which would lead to lower prices and profits. 2021 position: 2. Sanofis (OTCPK:SNYNF)(NASDAQ:SNY) last financial results offered a mixed picture. The Consumer Healthcare unit had two major deals in 2018, when GSK acquired Novartis' 36.5% stake in its consumer healthcare joint venture (JV) followed by a merger with Pfizer's consumer healthcare business into a JV. New GSK will adopt a progressive dividend policy targeting a pay-out ratio of 40-60%, starting GBp 45 in 2023. Sanofi Forward-Looking Statements Colds are one of the most common illnesses experienced by both adults and children. As part of Sanofis ongoing efforts to reduce the complexity of its Consumer Healthcare portfolio and accelerate its growth trajectory, the company has signed an agreement with STADA for the divestiture of 16 Consumer Healthcare products commercialized in Europe. It already has a first pocket of 150M to support French technology companies developing future technologies of a sovereign nature, which may fall prey to large foreign players or be overtaken by competitors who are able to finance themselves better. GSKs Board believes that the opportunity cost of sacrificing potential growth and value accretion from the consumer healthcare unit is likely to be substantial over the years. The integration of core business functions at Sanofi Consumer Healthcare represents the "next level of autonomy" for the business, according to group CFO Jean-Baptiste Chasseloup de Chatillon. All in all, considering both the current stock price and the possible catalysts to unlock the intrinsic value of the company, Sanofi is a buy. Sanofi is lining up to spin off its active pharmaceutical ingredients division that will include a listing as a public company, Reuters reported, citing unnamed sources.. Merck & Co's strategy to spin off its older drugs and biosimilars into a new stand-alone business will be closely watched by other pharma companies considering the same move, analysts have said.
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