Sanofi growth cure comes with M&A health warning Unmack1
French drugmaker Sanofi said on Dec. 9 it would end its research efforts in diabetes and cardiovascular diseases to focus on a smaller number of areas, including oncology, rare diseases and neurology.
The Paris-based group also said it would cut 2 billion euros of costs by 2022, from both the “de-prioritized business” as well as operational manufacturing and spending efficiencies. Chief Executive Paul Hudson will separate the consumer health division from Sanofi’s three “core” businesses of specialty care, vaccines and general care. The consumer division will have its own research and development and manufacturing functions, a structure that the group hopes will “unlock value and entrepreneurial energy”.
Hudson also highlighted the group’s potential to sell other assets, including established off-patent drugs, and its stake in Regeneron, currently worth around $8 billion.
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