March 31 (Reuters) – French drugmaker Sanofi (SASY.PA) has started a process to turn its India consumer healthcare business into a listed entity via a demerger, the Economic Times newspaper reported on Friday.

The company is working with Bank of America on the spin-off process, ET reported, citing people familiar with the matter.

Reporting by Jyoti Narayan in Bengaluru; editing by Uttaresh Venkateshwaran

Our Standards: The Thomson Reuters Trust Principles.