Sanofi (France) (SASY.PA) Outlines Long-Term Objectives Post Patent Expires, More Cost Cuts to Come
9/6/2011 8:21:34 AM
Sanofi, France’s biggest drugmaker, said it plans to increase earnings by more than 5 percent annually and trim costs by 2 billion euros ($2.8 billion) in the next four years. Sales should grow by at least 5 percent a year from 2012 to 2015 as Sanofi begins to move beyond the loss of revenue from patent expirations, the Paris-based company said in an e-mailed statement. Earnings per share will increase more than revenue, the company said, without being specific. Sanofi, which hosts a seminar today to discuss its strategy, also said it will increase the percentage of earnings it pays out in dividends.