REFILE-UPDATE 1-Sanofi pledges to keep up its restructuring efforts [Reuters]
Sanofi - American Depositary Shares (SNY)
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sanofi.com/en/investors
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Source: Reuters
Sanofi pledges to keep up its restructuring efforts | Reuters 3 Min Read (This version of the Sept. 14th story has been refiled to add dropped words in fifth paragraph) By Matthias Blamont PARIS (Reuters) - Sanofi ( SASY.PA ) will continue to implement cost savings after having reached a 1.5 billion euros ($1.75 billion) cost reduction target a year ahead of expectations, and added that several of its key drugs were selling well. The French drugmaker, hurt by declining revenue at its diabetes business in recent years, is eyeing a return to growth from the second half of 2018 as it builds upon acquisitions made earlier this year. “It’s only the beginning, and we will continue to be very efficient,” Chief Executive Olivier Brandicourt told investors, regarding the cost savings, at a Bank of America Merrill Lynch conference in London on Friday. The CEO did not elaborate further but referred to a reorganization of Sanofi’s global business units unveiled earlier this week. “In the develop
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