Sanofi prepares for major turnaround
French pharmaceutical major Sanofi-Aventis is to launch what its new chief executive Chris Viehbacher calls a dozen "programs for change," with a central focus on revamping drug R&D and opening the way to new acquisitions. Mr Viehbacher was due to make a detailed statement on the changes later this week (February 11), along with the company's 2008 year-end results, but has already indicated the main lines of the strategy to staff.
R&D is a critical area for the group, with several setbacks affecting new drug products through 2007 and 2008, notably the obesity and possible diabetes treatment Acomplia (rimonabant), withdrawn last year because of side effect problems (Marketletters passim).
New CEO says firm should have "listened"over Acomplia
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