Sanofi to move away from diabetes and cardiovascular, as company shakeup continues
pharmafile | December 10, 2019 | News story | Manufacturing and Production | ASH 19, Sanofi, Sanofi Diabetes, Sanofi Insulin, diabetes, insulin
Sanofi has said it will stop investment and research into creating new diabetes and cardiovascular drugs, as part of the company’s ongoing internal review.
These areas have historically been lucrative for the company but it has become a problem in recent years. There has been a lot of dissatisfaction from consumers due to the price of its insulin and this has hurt revenue from sales in recent years. Several government investigations into the drug’s prices also put pressure on the company.
Sanofi are also being pushed out of the market by increasing competition from other pharmaceutical giants, Novo Nordisk and Eli Lilly. They have been investing successfully into new types of diabetes medicines while Sanofi’s attempts have not yielded much success, on top of the French firm’s decision to cancel products that were in development for the condition.
The company has seen a shakeup under its new Chief Executive Officer, Paul Hudson, and has also seen personnel changes. Under his leadership, the company plans to prioritise their strongest selling products like immunology med Dupixent while ditching products that are not selling as well. The French company also said it will cut costs by €2 billion by 2023
While it has turned away from its historic industries, Sanofi has refocused its efforts in others. This week it announced a $2.5 billion acquisition of biotech Synthorx, which will bolster its portfolio of cancer drugs.
Conor Kavanagh
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