Sanofi (France) (SAN.PA) Exec Transferred After Algerian Scandal
10/3/2012 8:21:20 AM
Last June, an appeals court in Algeria upheld a $25 million fine against Sanofi and a one-year suspended prison sentence for Thierry Lefebvre, its general manager in the North African nation, for overcharging for drugs and active pharmaceutical ingredients. Now, Lefebvre is being replaced, although the drugmaker insists the change is part of a scheduled, three-year rotation and has nothing to do with the embarrassing episode, according to media reports. “In the context of the evolution of his career at Sanofi, Lefebvre, serving nearly three years, was promoted and called for new important functions in the group,” according to a translation of a statement that Sanofi provided to El Watan, an Algerian news outlet. The drugmaker insisted that the change has “absolutely” no connection with the overcharging case.