Sanofi (France) CEO is Open to Deals of Up to $2.6 Billion This Year, Will Trim Another $170 Million in Annual Costs

Sanofi, the French drugmaker that bought Genzyme Corp. of the U.S., is planning “bolt-on” acquisitions of up to 2 billion euros ($2.6 billion) this year, Chief Executive Officer Chris Viehbacher said. Viehbacher, who defines his acquisition strategy as a “string of pearls,” will keep on adding “more pearls” going forward, the 51-year-old executive said in an interview in San Francisco today. Paris-based Sanofi will stick to transactions “in the order of 1 billion to 2 billion euros per year,” Viehbacher said. “It’s not a budget. I am pretty happy with the shape of the company. All we want to do is continue to look for opportunities, particularly in emerging markets.”