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Sanofi has successfully spun off EuroAPI, its drug ingredients business, listing 58% of the firm on the Euronext stock exchange. The starting share price of 12 euros (about $13) on May 6 had risen to over 14 euros by May 11, valuing the company at over $1.2 billion. EuroAPI plans to grow in the fields of highly complex chemistry and contract drug R&D. The firm has six plants across Europe that make more than 200 drug ingredients.
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