After about five months on the job, Sanofi-Aventis SA (NYSE:SNY) chief executive Chris Viehbacher is making his presence felt as the company
reports profits are up about 16% and confirmed 2009 guidance.
Viehbacher, on the
hunt for acquisitions, cut 14 drugs in development from its pipeline of 65 -- including four Phase 3 drugs -- as he
shifts R&D money to focus on the best candidates, such as pediatric vaccine Hexaxim. Dow Jones said he may even look at
opportunities beyond the business of selling pills and look into the healthcare services market.
On the acquisition front, Viehbacher has said he was looking for
deals valued up to about €15 billion ($19 billion), but more recently said he wouldn't limit opportunities because of size. Reuters suggests Sanofi could branch out in animal healthcare, possibly buying the 50% share Merck & Co. (NYSE:MRK) has in their Merial joint venture
Most recently, Paris' Sanofi said it's acquiring BiPar Sciences Inc. of Brisbane, Calif., for up to $500 million. And as patents face generic competition, Sanofi is buying up generic firms in the emerging markets, including its $1.9 billion deal for Czech drugmaker Zentiva NV, which made it the world's No. 11 maker of generic medicines. -
Baz HiralalGo to the storyGo to the Sanofi earnings reportAlso see:
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