5/17/2013 7:30:41 AM
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Sanofi (SAN) and the French government presented conflicting views on plans for the future of the drugmaker’s research site in Toulouse, further complicating the company’s reorganization attempts. Industry Minister Arnaud Montebourg said in a statement that Paris-based Sanofi accepted the recommendations of a state-commissioned report to retain the facility and keep most of the jobs. Company spokesman Jean-Marc Podvin said in a telephone interview that while Sanofi will aid the site’s transition into “autonomous structures” over the next five years, it’s making “no commitment” on posts. The diverging views highlight the difficulty companies in France face as they seek to reorganize operations in the face of recession, which has pushed joblessness to a record high. Sanofi and the government have been in a tug-of-war for almost a year over the site, where the company’s blockbuster Plavix blood thinner was developed.
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