Sanofi (SNY)

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Sanofi Announces New Corporate Structure

By Nick Kostov

PARIS--Sanofi SA on Wednesday announced a new corporate structure that the French pharmaceuticals company said would make it more efficient and optimise growth, as the company's new chief executive puts his stamp on the business.

Sanofi, which in February named Olivier Brandicourt as its new chief executive, said it is organising itself into five global business units, with the structure set to be implemented in January 2016. Sanofi didn't say if the move would lead to any staff cuts or how much would be saved.

"The new organization simplifies and focuses Sanofi to optimize growth," said Mr. Brandicourt.

The company will now be divided along the lines of general medicines and emerging markets, specialty care, diabetes and cardiovascular, Sanofi Pasteur and Merial. Sanofi had listed seven businesses in its 2014 earnings.

Sanofi named Mr. Brandicourt CEO in February, appointing a pharmaceutical veteran to lead one of the world's largest drug and vaccine makers as it faces stiff competition and prepares to launch crucial new products.

Mr. Brandicourt's appointment ended months of speculation over who would take the reins at the French drug maker after the abrupt ouster of Christopher Viehbacher in October.

Sanofi said it aims to launch six new medicines in 2015 and approximately one every six months between 2016 and 2018.