Sanofi India Ltd.

CAMBRIDGE, Mass.--(BUSINESS WIRE)-- ReNAgade Therapeutics, a company unlocking the limitless potential for RNA medicines, today announced the appointment of Paul Perreault to its Board of Directors, effective December 5, 2023. Mr. Perreault most recently served as Chief Executive Officer of CSL and brings over 40 years of leadership experience across the biotechnology industry. “Paul is a distinguished industry executive recognized for his extensive track record in drug development and was integral to the growth of CSL to become an international leader in the field. His leadership and extensive knowledge of the biotech industry will be an invaluable addition to our company as we continue to build our portfolio of novel RNA medicines,” said Amit D. Munshi, Chief Executive Officer of ReNAgade. “We are pleased to welcome Paul to the ReNAgade team and look forward to his contributions.” “I am thrilled to join ReNAgade at this exciting time for the company,” said Mr. Perreault. “ReNAgade is led by a world-class executive team, and its innovative technologies have the potential to drive the field of RNA medicines forward on an unprecedented scale in the coming years.” Mr. Perreault brings more than 40 years of experience in the global biotechnology and pharmaceutical industries, most recently as CEO and Managing Director of CSL. Within his 25-year career with CSL, he was responsible for operations in more than 40 countries, including major manufacturing sites in the U.S., Switzerland, Germany and Australia, and an extensive network of plasma collection centers throughout North America and Germany. He previously served in senior leadership roles at various companies in the space including Wyeth, Centeon, Aventis Bioservices and Aventis Behring, and served on the Board of Directors of the Pharmaceutical Research and Manufacturers of America (PhRMA). In 2019, Mr. Perreault was included in Harvard Business Review’s CEO 100 List and recognized as one of the best performing CEOs in the world. He earned his B.S. in Psychology from the University of Central Florida and completed advanced business management training at Kellogg School of Management and Wharton School of the University of Pennsylvania. About ReNAgade Therapeutics ReNAgade exists to unlock the potential for RNA medicines to treat disease anywhere in the body. We combine our novel RNA delivery platforms with a comprehensive RNA platform allowing for an all-RNA system for coding, editing, and gene insertion to develop new medicines. To accelerate the future of medicine, we bring together a team with deep RNA and delivery expertise to develop paradigm-shifting RNA medicines. ReNAgade Therapeutics—RNA Without Limits For more information about the company, its technologies, and its leadership, visit

Ahmedabad-based pharmaceutical company CORONA Remedies has acquired the muscle relaxant brand Myoril from Sanofi India for Rs234 crore. The acquisition includes Myoril and its extensions. This acquisition comes after Corona's previous acquisitions of drug brands from GlaxoSmithKline and Abbott India. Myoril, with annual sales of Rs38 crore and a growth rate of 6.8%, will strengthen Corona's presence in the growing muscle relaxant market in India, which is valued at Rs1,626 crore. Ahmedabad-based pharmaceutical company CORONA Remedies has acquired leading muscle relaxant brand Myoril from Sanofi India, for Rs234 crore. Corona has acquired Myoril (Thiocolchicoside) and its extensions such as Myoril Plus (Ketoprofen + Thiocolchicoside), said people aware of the development. Another domestic pharmaceutical majors Torrent Pharma and Eris Lifesciences were also in the race to acquire these orthopaedic brands, said sources. When contacted, a Sanofi spokesperson confirmed the development. The acquisition of the Myoril brand for the Indian market is effective from June 28, 2023, added the spokesperson. Corona Remedies is backed by domestic PE fund ChrysCapital which owns about 30% stake with an investment of about Rs670 crore ($90 million). In 2017, Corona had acquired four drug brands of GlaxoSmithKline - Dilo-BM, Dilo-DX, Stelbid and Vitneurin. Two brands from Abbott India - Obimet and Thyrocab range of products (for diabetes and hyperthyroidism) were also acquired in 2018. The muscle relaxant market in India is valued at Rs. 1,626 crore and it is growing at 13%. Myoril has annual sales of Rs. 38 crore and a growth of 6.8%, according to IQVIA May 2023 data. Sanofi India has been divesting its non-core products as part of concentrating on its core areas such as chronic diseases. As part of the transformation, Sanofi India changed its organisation structure from eight Business Units (BUs) to a focused group of three BUs - Diabetes; Consumer Healthcare; and Transplants & Cardiology, said the company's annual report. Earlier, Sanofi India had sold its nutraceutical portfolio consisting of 16 brands and 30 stock-keeping units (SKUs) to a consortium of Universal Medicare-Kedaara Capital for Rs587 crore in 2021. In the same year, Sanofi India had sold its skin care brands - Soframycin and Sofradex brands to Encube Ehticals for a total consideration of Rs 125 crore. In May, Sanofi India demerged its consumer healthcare business to a wholly owned subsidiary Sanofi Consumer Healthcare India as a value-driven move to accelerate growth for both the pharmaceuticals business and consumer healthcare business in India. There are interest from Indian pharma companies for a few of Sanofi's consumer brands such as DePURA and Combiflam, added sources. The Indian pharmaceutical industry has been growing at an average of 10% over the past five years. In 2022, the industry grew by 6.5%, adding nearly Rs12,000 crore of incremental sales. The demand for acute therapies increased, while most chronic therapies like diabetes and cardiovascular treatments remained relatively steady, said the Sanofi India report. The IQVIA Prognosis Report (2022) projects that the Indian pharmaceuticals market is expected to grow at a CAGR 9.2% between 2021-26 and reach a market size of Rs2,95,100 crore by 2026. The rapid expansion of the e-pharmacy sector, expansion of co-marketing agreements, coupled with the introduction of new OTC regulations will also be a growth driver till 2026.

Sanofi India Ltd, local unit of the French drugmaker, on Wednesday said it has received board approval to sell its nutraceuticals business to Universal Nutriscience Pvt Ltd for Rs 587 crore ($78.9 million). As part of the transaction, 16 nutraceutical brands in the portfolio will be transferred to Universal Nutriscience, said Sanofi India in a statement. Universal Nutriscience is a strategic partnership between homegrown private equity firm Kedaara Capital and nutraceuticals firm Universal Medicare. "Following a strategic review of its portfolio, the company believes that the potential of the Nutraceuticals range would be maximised in an organisation, which can provide deep category understanding and continuous innovation required to win in this specialised area," said Rajaram Narayanan, managing director of Sanofi India. All employees who are associated with Sanofi India's nutraceuticals business will also be transitioned to Universal Nutriscience, he added. The deal is expected to be completed within the next three months. "We are committed to building a focused nutraceuticals business backed by three decades of experience in R&D and manufacturing to provide end-to-end scientifically backed products and services," said Nishant Sharma, investment chief and managing partner, Kedaara Capital. Sanofi has built its India business via multiple acquisitions. It 2009, it acquired vaccine maker Shantha Biotech and later in 2011, it bought the over-the-counter business of Mumbai-based Universal Medicare Ltd for its branded nutraceuticals formulations. A February 2021 media report by Pharma Intelligence said that globally Sanofi is looking to offload 150 over-the-counter brands as part of a radical overhaul of its consumer healthcare operation. In March, Sanofi sold an integrated portfolio of its anti-inflammatory drugs to Italian drug maker Fidia Farmaceutici. At that point, the drugmaker said that the “transaction continues Sanofi’s ongoing strategic transformation by simplifying its portfolio and streamlining to enhance profitability”. The new head of business Julie Van Ongevalle has unveiled a wide-ranging turnaround plan with the goal of transforming Sanofi into an OTC market leader, the report added. In late 2019, Sanofi announced the sale of a manufacturing unit in Gujarat’s Ankleshwar to Advent International-backed Zentiva Pvt Ltd for Rs 261.7 crore (about $36.53 million) in a slump sale.