EuroAPI to Cut 550 Jobs, Divest Facilities in Streamlining Plan to Reduce Reliance on Sanofi

1. Job Cuts: EuroAPI will lay off approximately 550 employees by 2027 as part of its streamlining plan.
2. Facility Divestiture: The company will sell its manufacturing sites in Haverhill, UK, and Brindisi, Italy.
3. Reducing Reliance on Sanofi: EuroAPI aims to decrease its dependence on Sanofi, its main customer.
4. Discontinuing APIs: The company will discontinue the production of 13 pharmaceutical ingredients between 2026 and 2027.
5. Capital Expenditures: EuroAPI plans to invest €350 million to €400 million in capital expenditures during the restructuring period.
6. New CEO: The company's new CEO, Ludwig de Mot, is leading the restructuring efforts.
7. FOCUS-27 Plan: The plan aims to make EuroAPI a more focused CDMO with a rationalized footprint and a leaner organization.