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Without CEO, Sanofi touts new drugs in its pipeline
November 20, 2014 / 6:27 AM / 3 years ago

Without CEO, Sanofi touts new drugs in its pipeline

PARIS, Nov 20 (Reuters) - Sanofi set out its strategy for bringing several new drugs to the market on Thursday, in a bid to win over investors alarmed by the sudden ouster of its chief executive and problems in the field of diabetes.

Sanofi said it could launch up to 18 new drugs by the end of 2020, with potential to reap more than 30 billion euros ($37.6 billion) within the first five years of sales. In 2015 alone, it expects to launch up to six new medicines.

It said it expected its global diabetes drug sales to be flat to slightly growing from 2015 to 2018.

Investors have voiced worries about Sanofi’s management and financial prospects since the drugmaker warned last month that sales of its popular Lantus insulin were slowing more sharply than expected and the board subsequently sacked CEO Chris Viehbacher over his solitary management style. (1 US dollar = 0.7971 euro) (Reporting by Natalie Huet; Editing by Anupama Dwivedi)

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