Post by lakers on Nov 14, 2015 15:10:09 GMT -5
A Look at Mnkd's Potential Oncology TS Pipeline, next indicator
Read more: mnkd.proboards.com/thread/4155/mnkds-potential-oncology-ts-pipeline#ixzz3rUz33w5W
Sanofi chief positive on new drugs as he warns on profits
French drugmaker group Sanofi new CEO Olivier Brandicourt addresses the groups general meeting in Paris©AFP
Sanofi chief executive Olivier Brandicourt
When Olivier Brandicourt took over as chief executive of Sanofi in April, there was a lot for him to be optimistic about.
A new cholesterol drug called Praluent, tipped for multibillion-dollar sales, was about to be launched with several other promising products following close behind.
Seven months later, the outlook has become more mixed as the 59-year-old warned investors on Friday not to expect any "meaningful" profit growth for the next two years. Shares in Sanofi fell almost 6 per cent in response.
In an interview with the Financial Times, Mr Brandicourt admitted that a downturn in diabetes drugs — responsible for a fifth of total revenues — had made his job more difficult as Sanofi's best-selling Lantus insulin faces competition from cheaper copycats.
He insisted Sanofi remained “strongly committed” to reviving its diabetes business, citing two multibillion-dollar licensing deals announced last week with Lexicon Pharmaceuticals of the US and Hanmi of South Korea to develop new treatments for the disease.
However, Mr Brandicourt made clear he was also looking for alternative sources of growth. Existing areas of strength such as cardiovascular medicine, rare diseases and vaccines would be bolstered, he said, and a renewed attempt was promised to crack one of the most lucrative areas of the pharmaceuticals market: oncology.
Mr Brandicourt lamented how Sanofi had “made a series of mis-steps” that left it absent from an important new category of cancer drugs called immuno-oncology, which is being led by Merck, Bristol-Myers Squibb, Roche and AstraZeneca.
He took the first step towards making up lost ground in July through a deal worth up to $2.2bn to jointly develop cancer immunotherapies with Regeneron, the US biotech company in which Sanofi has a 22.5 per cent stake. On Friday, he said there would be further investment and possibly acquisitions in oncology.
“We are not saying we will become leader . . . but it means participating in a meaningful way,” he said. “We think we can leapfrog and catch up very quickly . . . I know people are doubtful but we will make sure we prove them wrong.”
Resources look likely to be freed up for oncology and other priorities through the disposal of two non-core businesses: animal health and generic medicines in Europe. While a final decision has not been made, Mr Brandicourt said: “We will consider all options from IPO, to sale, to JV.”
A €1.5bn cost-saving programme will unlock further capital for growth areas, he said, with a pledge to lift investment in research and development by a fifth to €6bn by 2020.
Much of Sanofi’s most exciting science is carried out by Genzyme, the Boston-based biotech unit acquired for €20bn in 2011. That was the last large deal done by the French company and Mr Brandicourt, who has been involved in big acquisitions in previous roles at Bayer and Pfizer, said he was open to more. “We can accelerate our presence [in growth areas] through targeted M&A . . . If there is something that makes sense we have the capability.”
He planned to increase integration between Sanofi’s different business units — a process he said was left unfinished from previous deals. Restructuring could create tensions with powerful French labour unions but Mr Brandicourt said cost cuts would be spread around the world.
The aim was for a more “streamlined” organisation with “clear priorities”, he added, while maintaining diversification through pharmaceuticals, vaccines and consumer health.
A good relationship will be crucial with Serge Weinberg, Sanofi’s politically well-connected chairman, after the communications breakdown blamed for the firing of Chris Viehbacher as chief executive a year ago. Mr Brandicourt said that, so far, relations were going well.
www.ft.com/intl/cms/s/0/2b60c9d0-845f-11e5-9dc0-186bb1146746.html#axzz3rUxMtYs8
Read more: mnkd.proboards.com/thread/4155/mnkds-potential-oncology-ts-pipeline#ixzz3rUz33w5W
Sanofi chief positive on new drugs as he warns on profits
French drugmaker group Sanofi new CEO Olivier Brandicourt addresses the groups general meeting in Paris©AFP
Sanofi chief executive Olivier Brandicourt
When Olivier Brandicourt took over as chief executive of Sanofi in April, there was a lot for him to be optimistic about.
A new cholesterol drug called Praluent, tipped for multibillion-dollar sales, was about to be launched with several other promising products following close behind.
Seven months later, the outlook has become more mixed as the 59-year-old warned investors on Friday not to expect any "meaningful" profit growth for the next two years. Shares in Sanofi fell almost 6 per cent in response.
In an interview with the Financial Times, Mr Brandicourt admitted that a downturn in diabetes drugs — responsible for a fifth of total revenues — had made his job more difficult as Sanofi's best-selling Lantus insulin faces competition from cheaper copycats.
He insisted Sanofi remained “strongly committed” to reviving its diabetes business, citing two multibillion-dollar licensing deals announced last week with Lexicon Pharmaceuticals of the US and Hanmi of South Korea to develop new treatments for the disease.
However, Mr Brandicourt made clear he was also looking for alternative sources of growth. Existing areas of strength such as cardiovascular medicine, rare diseases and vaccines would be bolstered, he said, and a renewed attempt was promised to crack one of the most lucrative areas of the pharmaceuticals market: oncology.
Mr Brandicourt lamented how Sanofi had “made a series of mis-steps” that left it absent from an important new category of cancer drugs called immuno-oncology, which is being led by Merck, Bristol-Myers Squibb, Roche and AstraZeneca.
He took the first step towards making up lost ground in July through a deal worth up to $2.2bn to jointly develop cancer immunotherapies with Regeneron, the US biotech company in which Sanofi has a 22.5 per cent stake. On Friday, he said there would be further investment and possibly acquisitions in oncology.
“We are not saying we will become leader . . . but it means participating in a meaningful way,” he said. “We think we can leapfrog and catch up very quickly . . . I know people are doubtful but we will make sure we prove them wrong.”
Resources look likely to be freed up for oncology and other priorities through the disposal of two non-core businesses: animal health and generic medicines in Europe. While a final decision has not been made, Mr Brandicourt said: “We will consider all options from IPO, to sale, to JV.”
A €1.5bn cost-saving programme will unlock further capital for growth areas, he said, with a pledge to lift investment in research and development by a fifth to €6bn by 2020.
Much of Sanofi’s most exciting science is carried out by Genzyme, the Boston-based biotech unit acquired for €20bn in 2011. That was the last large deal done by the French company and Mr Brandicourt, who has been involved in big acquisitions in previous roles at Bayer and Pfizer, said he was open to more. “We can accelerate our presence [in growth areas] through targeted M&A . . . If there is something that makes sense we have the capability.”
He planned to increase integration between Sanofi’s different business units — a process he said was left unfinished from previous deals. Restructuring could create tensions with powerful French labour unions but Mr Brandicourt said cost cuts would be spread around the world.
The aim was for a more “streamlined” organisation with “clear priorities”, he added, while maintaining diversification through pharmaceuticals, vaccines and consumer health.
A good relationship will be crucial with Serge Weinberg, Sanofi’s politically well-connected chairman, after the communications breakdown blamed for the firing of Chris Viehbacher as chief executive a year ago. Mr Brandicourt said that, so far, relations were going well.
www.ft.com/intl/cms/s/0/2b60c9d0-845f-11e5-9dc0-186bb1146746.html#axzz3rUxMtYs8
