Sanofi looking to diversify, may buy into animal health
pharmafile | December 11, 2014 | News story | Manufacturing and Production, Research and Development, Sales and Marketing | EFPIA, Jimenez, Sanofi, Serge Weinberg, Viehbacher, animal health
Sanofi is looking to diversify and is even considering buying into the consumer and animal health markets according to its chairman and acting chief executive Serge Weinberg.
In an interview with the German publication Handelsblatt, Weinberg said that veterinary drugs and consumer health areas are “perhaps less driven by innovation, but continuously grow and are more stable”.
According to industry sources the French firm could be interested in Zoetis, the former subsidiary of Pfizer and the world’s largest producer of medicine for pets and livestock.
Weinberg told Handelsblatt that if there were opportunities, Sanofi would be ‘prepared and able’ to make acquisitions in these areas.
In what might be a precursor to moving into the animal health market Sanofi just recently bought Merck’s manufacturing facility in Puerto Rico, through its animal wellbeing unit Merial.
The transaction requires the nod from the US Federal Trade Commission but if approved, allows Merial to expand its global manufacturing operations.
However, Sanofi declared that it is not planning on vending off any of its portfolio for its older products which its former chief executive, Chris Viehbacher, had originally planned to do.
Weinberg explained that the struggling firm delivers some steady business and questioned why it would sell, adding: “We do not think that would be a good idea.” He also told Handelsblatt the firm is not interested in purchasing Bayer’s diabetes device unit, which is up for sale, saying: “I do not think we would be interested.”
Changes at the top
Sanofi is certainly embracing change lately what with the recent dismissal of its chief executive of six years, Chris Viehbacher.
He was sacked back in October after the board lost patience with his leadership style according to industry observers – Weinberg was immediately declared to be its interim chief executive.
Commenting on the search for a new head to fill the role, Weinberg said: “That is a very important decision that we do not want to rush. But it should not take another half year until we can announce a new chief executive.”
The firing of Viehbacher also means that a change in personnel at the European Federation of Pharmaceutical Industries and Associations (EFPIA) took place.
The former Sanofi boss was due to serve as EFPIA president until June next year but his early exit means Novartis chief executive Joe Jimenez steps in ahead of schedule.
Tom Robinson
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