French drugmaker Sanofi (SNYNF,SNY) on Wednesday announced a new global business unit structure that will reduce its global business units from seven to five, in order to drive future growth. The company will implement the new business unit structure beginning in January 2016.
Sanofi's five business units will now be General Medicines & Emerging Markets, Specialty Care, Diabetes & Cardiovascular, Sanofi Pasteur and Merial.
The company will have three new global business units for general medicines & emerging markets, specialty care, and diabetes & cardiovascular. Sanofi said it will follow the process of legal and social consultation as required.
Olivier Brandicourt, Chief Executive Officer of Sanofi said, "The new organization simplifies and focuses Sanofi to optimize growth. This is a necessary step for ensuring that Sanofi's new medicines and vaccines continue to build on our heritage of providing innovative healthcare therapies."
Sanofi noted that it is now poised to achieve significant growth with the potential of launching up to six new medicines in 2015, and about one new medicine every six months between 2016 and 2018.
The General Medicines & Emerging Markets unit will be led by Peter Guenter. The unit will consist of Sanofi's Established Products, Generics, Consumer Healthcare, and all pharmaceutical businesses in Emerging Markets.
The Specialty Care unit, to be called Sanofi Genzyme, will be led by David Meeker. It will consist of Sanofi's medicines in rare diseases, multiple sclerosis, oncology and immunology and will include the company's two, investigational biologics, sarilumab and dupilumab.
The Diabetes & Cardiovascular business unit will be led by Pascale Witz and will consist of Sanofi's diabetes care medicines as well as cardiovascular. It includes Praluent or alirocumab, currently under review by the U.S. FDA and the European Medicines Agency or EMA.
Sanofi Pasteur and Merial will continue to manage their current portfolios of vaccines and animal health products. Olivier Charmeil will continue to lead Sanofi Pasteur, while Carsten Hellmann will continue to lead Merial.
Sanofi said the composition of the executive committee will remain unchanged. The executive positions announced today are effective January 1, 2016.
SNY is trading at $53.31, down $0.03 or 0.05 percent on a volume of 445,855 shares.
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