Sanofi reveals savings plan

 

Sanofi aims to save a further $2bn by 2015 as part of the company’s long-term objectives and cost-cutting plans.

The company expects new initiatives, as well as the expected $700m savings from the acquisition of Genzyme, will generate incremental cost savings over the next four years.

Christopher A. Viehbacher, CEO, says Sanofi is set to “embark upon a period of consistent and sustainable growth” in the coming years.

A previous cost savings programme has already realised its target of $2bn by 2011 – two years ahead of schedule.

Despite the loss of patent protection for several products, Sanofi says it expects 80% of sales in 2015 to come from growth platforms and its Genzyme business.

The plans also feature an increase in sales growth of at least 5% on average from 2012 to 2015 following the progress of a 2009 R&D transformation. Sanofi now says that a potential 19 products are set to be launched between 2012-2015, with six of these scheduled to be filed by March 2012.