Oct 27 Reuters Sanofi is considering a separate listing of its consumer healthcare business from the fourth quarter of next year, the French drugmaker said on Friday, adding that it plans to boost drug development at its core business.

Sanofi is reviewing potential separation scenarios, but believes that the most likely path would be through a capital markets transaction, by creating a listed entity headquartered in France, Parislisted Sanofi said in a statement.

The timing for the potential listing, which Sanofi said will not happen before the fourth quarter of 2024, will be set to maximize value creation for shareholders. Sanofi said it would consult with employee representatives on any planned deal.

Sanofi expects 2024 adjusted earnings per share to decline by a lowsingledigit percentage, citing increased spending on research and development and a higher tax rate, followed by a strong rebound in 2025.

For 2023, the Parisbased drugmaker still expects adjusted earnings per share to grow by a midsingledigit percentage rate, excluding the effect of currency swings.

Sanofi said it is targeting cost savings of up to 2 billion euros 2.11 billion from 2024 until 2025end, of which most will be reallocated to fund innovation and growth.

The company reported a 10.4 decline in its thirdquarter business operating income, or adjusted earnings before interest and tax, of 4.03 billion euros, slightly below average analysts39; estimate of 4.1 billion euros posted on its…