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May 4, 2015

Sanofi rebels make mark in AGM vote on CEO pay

PARIS, May 4 (Reuters) – Rebel Sanofi investors
made a mark at the drug maker’s annual meeting on Monday as
resolutions approving millions of euros paid to attract a new
boss and pay off the one it had sacked were passed with fewer
than two out of three votes cast.

While most resolutions were waved through with approval
rates in the high 90s percent, more than a third were cast
either against or as abstentions on two resolutions relating to
executive remuneration.

Apr 30, 2015

Sanofi faces AGM row over cost of firing and hiring CEOs

PARIS, April 30 (Reuters) – Drugs group Sanofi,
which sacked its chief executive last year and appointed a new
one in February, has appealed for shareholder loyalty as it
seeks to head off a potential rebellion over millions of euros
in payments to both men.

Investor advisory group ISS has recommended a vote against
two resolutions that would approve those payments at the French
company’s annual general meeting (AGM) on Monday.

Apr 30, 2015

Sanofi warns of lower diabetes drug sales this year

PARIS (Reuters) – France’s Sanofi (SASY.PA: Quote, Profile, Research) warned revenue in its key diabetes division would fall this year after it was forced to offer discounts for its best-selling drug Lantus in the United States.

Global sales of Lantus, which accounts for almost a fifth of the company’s revenue but is due to go off-patent in the United States this year, fell 5 percent at constant currency rates to 1.58 billion euros (1 billion pounds) in the first quarter – dragging down sales of Sanofi’s biggest division, diabetes, by 3.2 percent.

Apr 30, 2015

Holcim, Lafarge shares up after results seen boding well for merger

ZURICH/PARIS, April 30 (Reuters) – Swiss cement maker Holcim
reported a jump in first-quarter net profit on
Thursday, helped by asset sales, while its French merger partner
Lafarge posted a better than expected rise in
operating profit.

Shares in both companies climbed after the results as
analysts said the numbers boded well ahead of a Holcim
shareholder meeting next week, when two-thirds of investors in
the Swiss company need to back the merger for it to proceed.

Apr 30, 2015

Sanofi Q1 beats forecast despite Lantus slide, 2015 guidance maintained

PARIS, April 30 (Reuters) – Drugs firm Sanofi
maintained its guidance for stable to slightly growing 2015
profit on Thursday, as first-quarter earnings grew modestly and
beat expectations despite lower sales of main drug Lantus and
the prospect that fall will continue.

The France-based company said first-quarter business net
profit grew 1.6 percent at constant currency rates, equivalent
to 11.6 percent on a reported basis, to 1.73 billion euros ($1.9
billion) thanks to the impact of a weak euro.

Apr 24, 2015

France’s ‘economic patriotism’ is not what it seems

PARIS (Reuters) – Foreigners are set to take over several French blue chip firms this year and will largely do what they want with their prizes – showing the limits of new laws passed in the name of “economic patriotism”.

A decree extended state veto powers on foreign bids to more sectors deemed strategic last year and legislation taking effect this year encourages double-voting rights for the state and other long-term shareholders.

Apr 24, 2015

Insight – France’s ‘economic patriotism’ is not what it seems

PARIS (Reuters) – Foreigners are set to take over several French blue chip firms this year and will largely do what they want with their prizes – showing the limits of new laws passed in the name of “economic patriotism”.

A decree extended state veto powers on foreign bids to more sectors deemed strategic last year and legislation taking effect this year encourages double-voting rights for the state and other long-term shareholders.

Mar 27, 2015

French consumers more confident, PM upbeat on growth

PARIS (Reuters) – France will achieve solid growth faster than expected, Prime Minister Manuel Valls said on Friday, as data showed households more optimistic than they have been in four and a half years.

Speaking two days ahead of local elections where his unpopular Socialist party expects a severe defeat, Valls said improving economic data meant growth could be strong enough to bring unemployment down this year.

Mar 23, 2015

Sika says wins court ruling in St-Gobain bid battle, shares up

PARIS, March 23 (Reuters) – Shares in Sika leapt on
Monday after the Swiss chemicals firm said it had won a key
court ruling in its battle to fend off a back-door takeover by
Saint-Gobain.

The French building materials group said the ruling by the
Court of Zug did not change the fundamentals of the case, but
the family it is buying a disputed stake from acknowledged that
the decision effectively strips away its voting rights at a
forthcoming shareholders’ meeting on April 14.

Mar 22, 2015

Sarkozy denies far-right Le Pen victory in French polls

PARIS (Reuters) – Former president Nicolas Sarkozy’s conservative UMP party and their allies led in the first round of French local elections, exit polls showed on Sunday, denying Marine Le Pen’s far-right National Front (FN) first place.

If confirmed, the result would be a setback for Le Pen, who had hoped her anti-immigrant, anti-euro party would emerge top in the first round, boosting her ambitions to win presidential elections set for 2017.

    • About Andrew

      "Andy leads the London-based team that edits company news copy from around Europe, the Middle East and Africa and supports EMEA Companies Editor of Charge Chris Wickham. Andy is a newswire "lifer" with experience in reporting and editing in London, Singapore and Paris. A one-time oil industry specialist, his first industry job in the early 1980s was collecting pepper and banana prices for Agence France Presse."
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