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Sanofi plans to save extra €2bn by 2015

Sanofi is aiming to save an additional €2bn by 2015 as part of the pharmaceutical company's cost-cutting measures

Sanofi is aiming to save an additional €2bn by 2015 as part of the pharmaceutical company's cost-cutting measures.

Sanofi said that, in addition to the already announced €2bn cost savings programme to be reached by 2011, the company expects new initiatives will mean additional incremental cost savings of €2bn by 2015. This includes $700m of cost synergy savings expected from the February, 2011, acquisition of Genzyme.

The plans feature in a set of long term objectives released by the company, which also include an increase in sales growth of at least 5 per cent on average across 2012 to 2015.

With the loss of patent protection for several products such as Plavix (clopidogrel) and Avapro (irbesartan), Sanofi said it expects 80 per cent of sales in 2015 to come from growth platforms and its Genzyme business.

Growth platforms include emerging markets, which are expected to account for about 40 per cent of total company sales in 2015 compared to 29 per cent in 2010.

Christopher A Viehbacher said the company was about to embark upon a "period of consistent and sustainable growth" with 19 new projects currently in development.

6th September 2011

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