Sanofi to fight globalisation, focus on new markets
* CEO says will fight against globalisation of business
* Diversification and emerging markets key growth drivers
By Kate Kelland
LONDON, Nov 17 (Reuters) - French drugmaker Sanofi-Aventis (SASY.PA: Quote, Profile, Research) sees major growth drivers in China and India but its chief executive says he will fight the kind of globalisation that stifles innovation and ignores local patients.
Chris Viebacher said Sanofi was eager to diversify and pursue opportunities in emerging markets but would not want to "Sanofise" all areas of its business.
"We have to become much more adapted to our markets and our customers and we have to fight this globalisation process," Viebacher told a conference in London on Tuesday.
Since Viehbacher's arrival about a year ago, Sanofi has embraced the idea of doing deals with biotechnology companies with products in early or mid-stage development and has targeted vaccines and expansion into new disease areas as ways to deal with patent expiries and generic challenges.
Over the past months, it has boosted its cancer portfolio with licensing deals with Micromet, Merrimack and by buying BiPar Sciences, and expanded its presence in diabetes through a deal with Wellstat Therapeutics. The firm has also said it wants to double its vaccine business in the next 5 years. Continued...
Economy seen growing at 7.2 pct in FY10 - govt
The forecast reinforces the possibility that the government may start to unwind its fiscal stimulus in the budget. Full Article
Greek crisis sets euro zone enlargement back
The Greek debt crisis has dealt a setback to prospects of enlarging the euro zone by highlighting the difficulties of managing the single currency area. Full Article





India
US
UK






