Sanofi ends research in diabetes, narrows units to spur profits

 Sanofi ends research in diabetes, narrows units to spur profits

PARIS (Reuters) - Sanofi on Monday said it would end its research efforts in diabetes and cardiovascular diseases as part of a reorganisation plan that will narrow the number of its global business units in the hope of bolstering growth and profits.

The French drugmaker, which will gather investors on Tuesday in Cambridge, Massachusetts, also said it was targeting new savings of 2 billion euros (1.7 billion pounds) by 2022 as well as a core operating margin of 30% at that horizon compared to a ratio of 25.8% last year.

(Reporting by Matthias Blamont; Editing by Sarah White)

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Updated Date: Dec 10, 2019 03:07:46 IST