Sanofi ends research in diabetes, narrows units to spur profits [Reuters]
Sanofi - American Depositary Shares (SNY)
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Source: Reuters
Sanofi ends research in diabetes, narrows units to spur profits PARIS (Reuters) - Sanofi ( SASY.PA ) on Monday said it would end its research efforts in diabetes and cardiovascular diseases as part of a reorganisation plan that will narrow the number of its global business units in the hope of bolstering growth and profits. The French drugmaker, whose pipeline has disappointed investors in recent years, poached new chief executive Paul Hudson from Swiss pharma group Novartis ( NOVN.S ) in September to revive momentum. That followed the recruitment of a senior head of research from Roche ( ROG.S ) in 2018. Its move to ditch diabetes research - announced alongside cost savings targets - marks a major turning point for a firm whose products in this field dominated the insulin market for two nearly two decades, before it was hit by patent losses and a drop in sales. “We recognise it is getting more difficult to get breakthrough innovation and that we have to be efficient and move ou
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