Sanofi, France’s biggest drugmaker, is advancing its overhaul of research and development, with the goal of becoming the industry leader in bringing new medicines to market, said Elias Zerhouni, the president of global R&D.
Few government programs seem as sacrosanct as funding for medical research. Despite continuing U.S. budget constraints, both Democrats and Republicans regularly pledge to increase funding for the National Institutes of Health and other government medical research.
Sanofi said profit may drop as much as 5 percent this year as generic competition to the Plavix blood thinner crimps sales and it spends to introduce new medicines. The stock fell the most in nine months.
Sanofi, France’s biggest drugmaker, told employees it will proceed with plans to end research operations in Toulouse, on the same day PSA Peugeot Citroen said it would shut its first car factory in the country in 20 years.
Sanofi-Aventis SA named Elias Zerhouni head of research and development, replacing Marc Cluzel , a further step in Chief Executive Officer Chris Viehbacher ’s reorganization of France’s biggest drugmaker.