In the first quarter, Lantus sales declined 6.6% year over year, weighing down Sanofi's total revenue growth in the period. Sanofi: Availability of the Pre-quarterly Results Communication. Neither your address nor the recipient's address will be used for any other purpose. One largest biopharma companies in the world by sales, Sanofi's come under pressure following the launch of generic alternatives to its blockbuster diabetes drug, Lantus, a long-lasting insulin. Download the PDF version. Sanofi finalizes Praluent® (alirocumab) restructuring with Regeneron. Apart from any fair dealing for the purpose of private study or research, no Company officials did not mention the coming layoffs during the visit, "but the French authorities knew that we had a restructuring to carry out," Sanofi's France chief Olivier Bogillot told AFP on Friday. 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The restructuring simplifies the antibody collaboration between the companies, increases efficiency, … Phys.org internet news portal provides the latest news on science, Tech Xplore covers the latest engineering, electronics and technology advances, Science X Network offers the most comprehensive sci-tech news coverage on the web. Pharmaceutical giant Sanofi said Friday that it would eliminate 1,700 European jobs, including 1,000 in France, as part of a cost-cutting drive announced last December. Hudson later indicated that the vaccine would be made available to everyone at the same time. Market data powered by FactSet and Web Financial Group. Lantus sales are expected to continue falling following a key patent loss to Mylan (NASDAQ:MYL) in March, and the Food and Drug Administration's approval of Mylan's Lantus Solostar biosimilar, Semglee, in June. or. 6 Companies Racing to Mass-Produce a Coronavirus Vaccine in 2021, Better Late Than Never: Sanofi and GlaxoSmithKline Start Coronavirus Vaccine Clinical Trial Program, Kevzara Fails COVID-19 Patients for the Last Time, Copyright, Trademark and Patent Information. Cumulative Growth of a $10,000 Investment in Stock Advisor, Sanofi's Cost-Cutting Could Mean Big Job Losses @themotleyfool #stocks $SNY $MYL, Sanofi and Translate Bio Have a COVID-19 Vaccine Candidate Ready for Clinical Trials. Hudson drew the ire of French officials last month when he said a potential COVID-19 vaccine Sanofi is working on would be offered first to the US government, which has invested millions in its development. 2020-04-03 … Effective April 1, 2020, Sanofi will have sole responsibility for Praluent outside the U.S. Regeneron will have sole responsibility for Praluent in the U.S. Effective April 1, 2020, Sanofi has sole responsibility for Praluent ® outside the U.S. while Regeneron has sole responsibility for Praluent ® in the U.S. Download the PDF version. Sanofi announced its intent to restructure the antibody collaboration for Praluent and Kevzara® (sarilumab) in December 2019. We do not guarantee individual replies due to extremely high volume of correspondence. Paris – April 6, 2020 – Sanofi has finalized the planned restructuring related to Praluent ® (alirocumab) with Regeneron Pharmaceuticals, Inc. CONSOLIDATED BALANCE SHEETS – SHAREHOLDERS’ EQUITY AND LIABILITIES (€ million) Note June 30, 2020 December 31, 2019 Equity attributable to equity holders of Sanofi 63,304 58,934 Equity attributable to non-controlling interests 182 174 Total equity B.8. By using our site, you acknowledge that you have read and understand our Privacy Policy On April 6, Sanofi announced that it had finalized the planned restructuring related to Praluent® with Regeneron. Click here to sign in with It also outlined financial goals, including expanding its business operating income margin to 30% by 2022 and 32% by 2025 via approximately $2.2 billion in expense cuts associated with de-prioritized businesses, lower spending on supplies, and "organizational productivity." 2 2020 Half-Year Financial Report - Sanofi. Your feedback will go directly to Science X editors. Stock Advisor launched in February of 2002. Reuters is reporting biopharma giant Sanofi (NASDAQ:SNY) will discuss job cuts with staff representatives tomorrow and Monday that could reduce its headcount by up to … Is the Coronavirus Vaccine Market Oversaturated? Todd has been helping buy side portfolio managers as an independent researcher for over a decade. 63,486 59,108 Long-term debt B.9. See you at the top! You can unsubscribe at any time and we'll never share your details to third parties. and Terms of Use. This website uses cookies to track its audience and improve its content. In 2003, Todd founded E.B. Press releases. The restructuring simplifies the antibody collaboration between the companies, increases efficiency, and streamlines operations for Praluent. Sanofi finalizes Praluent® (alirocumab) restructuring with Regeneron. The possible reorganization is part of plans announced in December to eliminate $2.24 billion in spending by 2022. The Ascent is The Motley Fool's new personal finance brand devoted to helping you live a richer life. To offset headwinds, Sanofi unveiled plans in December to realign the company, shifting its focus away from diabetes to vaccines, autoimmune disease drugs, genetic disorders, and cancer drugs. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. Pharmaceutical giant Sanofi said Friday that it would eliminate 1,700 European jobs, including 1,000 in France, as part of a cost-cutting drive announced last December. The move comes just days after the company announced it would invest 490 million euros ($550 million) to build a new vaccine production site in France that would create 200 jobs, during a factory visit alongside President Emmanuel Macron. The firm's British chief executive, Paul Hudson, has said he aims to cut costs by two billion euros over the next two years, in particular by withdrawing from the diabetes and cardiovascular areas and focusing more on cancer treatments. Ostensibly, the potential job cuts being discussed this week are designed to deliver on those goals, particularly given Reuters' reporting that workers in Sanofi's vaccine and rare disease businesses aren't being targeted. The content is provided for information purposes only. Sales of Lantus Solostar totaled $4.33 billion in the 12 months ending April 30, according to IQVIA. You can be assured our editors closely monitor every feedback sent and will take appropriate actions. Although each company will have responsibility for supplying Praluent in its respective territory, the companies have entered into agreements to support manufacturing needs in the near term. Thank you for taking your time to send in your valued opinion to Science X editors. Your opinions are important to us. 2020-04-06 MMMM DD YYYY. part may be reproduced without the written permission. On April 6, Sanofi announced that it had finalized the planned restructuring related to Praluent ® with Regeneron. by HrNxt Newsdesk • June 28, 2020 French drugmaker Sanofi, recently said that it will cut up to 1,680 jobs in Europe in an attempt to cut costs and lift profits. Reuters is reporting biopharma giant Sanofi (NASDAQ:SNY) will discuss job cuts with staff representatives tomorrow and Monday that could reduce its headcount by up to 1,000 people. Sanofi continues to work on assessing the restructuring related to Kevzara given the recently launched U.S. and global clinical programs evaluating Kevzara for patients hospitalized with severe and critical COVID-19 infection. Download the PDF version. Your email address is used only to let the recipient know who sent the email. According to a Reuters report, the company currently employs more than 100,000 people worldwide. The layoffs will be voluntary, and will affect marketing and support divisions as well as some research jobs. Paris – April 6, 2020 – Sanofi has finalized the planned restructuring related to Praluent® (alirocumab) with Regeneron Pharmaceuticals, Inc. Todd has provided insight to a variety of publications, including SmartMoney, Barron's, and CNN/fn. By continuing to browse this website, you agree to the use of such cookies. Sanofi successfully prices taps on outstanding bond issues for EUR 500 million . Let's conquer your financial goals together...faster. Click here for more information on cookies. 2020-04-03 MMMM DD YYYY. Returns as of 10/15/2020. Effective April 1, 2020, Sanofi will have sole responsibility for Praluent outside the U.S. Regeneron will have sole responsibility for Praluent in the U.S. This document is subject to copyright. 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