Investors recalculate after Sanofi unveils road map
Sanofi (EURONEXT:SAN; NYSE:SNY) fell $3.82 to $46.60 in New York and EUR 6.38 to EUR 86.90 in Paris on Friday after it said not to expect "any meaningful bottom line growth" for the next two years. Sanofi described a "strategic roadmap" for long-term growth, saying it would refocus its portfolio and simplify the organization in effort to grow the EPS of its businesses faster than sales starting in 2018.
CEO Olivier Brandicourt said the portfolio would be "refocused on areas where we can win," including diabetes, cardiovascular therapies and vaccines. Earlier this week, Sanofi announced two diabetes deals, licensing long-acting diabetes treatments from Hanmi Pharmaceutical Co. Ltd. (KOSDAQ:128940) and a dual sodium-glucose cotransporter 1 ( SGLT1) and SGLT2 inhibitor from Lexicon Pharmaceuticals Inc. (NASDAQ:LXRX) (see BioCentury Extra, Nov. 5). ...