Sanofi CEO to reinforce growth with smaller acquisitions
Sanofi’s CEO, Chris Viehbacher, has told a French newspaper that the drugmaker will stick to smaller acquisitions, with a plan to spend 1 to 2 billion euros each year on acquisitions.
Since taking the role of CEO five years ago, Viehbacher has spent 24 billion euros on acquisitons, which includes the takeover of US biotech, Genzyme. This was largely to refill Sanofi’s drug pipeline following a number of patent expirations in its core areas: diabetes, vaccines, emerging markets, animal health and rare diseases.
“I’m satisfied with Sanofi’s current perimeter. We will keep reinforcing the growth platforms, to the tune of 1 to 2 billion euros per year in acquisitions. But I don’t think we should widen this perimeter.”
Chris Viehbacher, CEO of Sanofi, comments to Le Figaro newspaper.
Last month, Sanofi announced a decline in third-quarter sales, following a slowdown in China and Brazil, and as a result, lowered its full-year profit guideline for the second time.
Sanofi to spend €1 bln – €2 bln on acquisitions (Market Watch)
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