Specialist Sub-editor / Correspondent, Political Risk Asia, Singapore
Daniel's Feed
Nov 6, 2015

Sanofi shares drop after warning of no profit growth for two years

PARIS, Nov 6 (Reuters) – Sanofi said on Friday
investment in products to compensate for declining diabetes
sales and cost cuts would prevent any meaningful profit growth
in the next two years, as it unveiled its strategic plan through

Shares in Sanofi fell as much as 5.4 percent in early
trading, the biggest losers on the French blue-chip CAC 40
index, wiping about 6 billion euros ($6.5 billion) off
the value of France’s biggest listed company.

Jul 30, 2015

Sanofi’s diabetes sales slow, Genzyme’s jump

PARIS, July 30 (Reuters) – Sanofi reported lower
second quarter sales for its strategic diabetes division on
Thursday, hurt by continued pricing pressure in the United
States, but it’s biotech arm Genzyme recorded another quarter of
double-digit growth, enabling the French drugmaker to beat
forecasts overall.

Forced to agree to increased rebates to maintain market
share of Lantus, a blockbuster insulin drug whose patent expires
this year in the U.S, Sanofi said sales in its diabetes branch
declined 3.8 percent at constant currency rates to around 2
billion euros ($2.1 billion).

Jun 17, 2015

French biotechs eye U.S. for investment, markets

PARIS, June 17 (Reuters) – A group of French biotech
companies working in diabetes, cancer and other fields went on
the hunt this week for funding and market share in the United
States, the world’s biggest drugs market.

About 20 biotech firms were meeting specialised North
American investment funds, banks and financial analysts in New
York on Wednesday and Thursday. bit.ly/1MIjZty

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

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.

Jan 30, 2015

Three months on, fruitless CEO search overshadows Sanofi

PARIS, Jan 30 (Reuters) – Barring a last-minute
breakthrough, drugs firm Sanofi’s Chairman Serge
Weinberg may have to acknowledge in his results presentation
next week that the hunt for a new chief executive is not going

At least three potential candidates in a narrow field have
turned their back on the job heading France’s largest company.

Nov 18, 2014

Sanofi draws up candidate shortlist for top job -source

PARIS, Nov 18 (Reuters) – Sanofi is drawing up a
shortlist of candidates for the post of chief executive to
replace Chris Viehbacher, ousted by the board last month, a
source close to the French drugmaker told Reuters.

Sanofi’s board met earlier on Tuesday and chose director
Jean-Rene Fourtou to lead the appointments and governance
committee that will be tasked with reviewing the shortlist and
selecting the new CEO, said the source.

Nov 17, 2014

Sanofi board to meet Tuesday after sacking CEO -sources

PARIS, Nov 17 (Reuters) – Sanofi will hold a board
meeting by telephone on Tuesday from 1100 GMT to 1200 GMT, two
sources close to the French drugmaker told Reuters.

The board is set to discuss Sanofi’s situation and
governance after it summarily ousted its chief executive Chris
Viehbacher last month. Chairman Serge Weinberg has taken the
helm while the company looks for a new CEO.

Nov 2, 2014

How the wheels came off for Sanofi’s CEO

PARIS/LONDON, Nov 2 (Reuters) – Chris Viehbacher speaks
plainly. “We had somewhat of a mess in Brazil,” he told
financial analysts in August 2013, “so that’s why I decided to
change management.”

Fifteen months later he has gone the same way as the
Brazilian employees he sacked so decisively – fired as chief
executive of French drugmaker Sanofi at a dawn board
meeting, with the “mess in Brazil” cited as one of the reasons.

Oct 29, 2014

Behind the scenes of Sanofi’s boardroom bust up

PARIS (Reuters) – A boardroom tussle brewing for months at Sanofi came to a head on Wednesday when France’s top drugmaker fired its chief executive, wiping more billions off its share price.

While the showdown played out in leaks to national newspapers has stunned investors as a “how not to do it” guide to corporate governance, the writing was on the wall in the deteriorating relationship between Chairman Serge Weinberg and CEO Chris Viehbacher.

    • About Daniel

      "Daniel is based in Singapore, where he writes and edits stories on politics, risk and international relations in the Asia-Pacific region. He is currently on assignment in Afghanistan. Before moving to Asia, he was West and Central Africa correspondent for Reuters."
      Joined Reuters:
    • Contact Daniel

    • Follow Daniel