3. November 2011 11:15
Sanofi plans to cut hundreds of jobs in its sales and R&D departments in the US over the coming months.
The job losses come as the company prepares to lose patent exclusivity on key products and fully absorbs Genzyme following its acquisition in February 2011.
The sales jobs cuts would be focused on Sanofi’s cardiovascular and oncology groups, aiming for cost savings of $2.9 billion per year, said CEO Christopher Viehbacher.
More than 9,000 jobs have been cut at the company over the last several years, including approximately 3,800 sales employees in the US.
The staff reductions in mature markets have been similar at many other pharmaceutical companies, adding vacancies in emerging markets.
According to Mr Viehbacher, Sanofi has added more than 3,700 pharmaceutical jobs in emerging markets since 2008.