Video: Sanofi CEO on Q2 results
Sanofi, a global and diversified healthcare leader, reports their results for the second quarter of 2012 for EuroBusinessMedia. CEO Chris Viehbacher comments on Q2 results and the general future outlook. Below, I’ve highlighted some of the key points in the interview. What did you think?
What are your comments on your results for the second quarter 2012? “Results for the second quarter are no surprise. May 17th, we lost exclusivity for Plavix®. For the few months leading up to that date, Plavix® was the world’s biggest selling medicine. But of course, this is something we’ve anticipated for the last three years.”
Where do you stand today with the so-called patent cliff? By the time we get to the end of the year, we have about 5% of our sales in small molecules in US and Western Europe, so if you like we’ve been through this deep patent cliff, but we come out of it with one of the lowest patent exposures in the rest of the industry, and I think that gives me the confidence to really look at a period of growth going forward.”
What is your update on your Emerging Markets growth and how sustainable is it? “Emerging Markets is a key strength of Sanofi. We are the #1 player in this market. It is our single biggest region. We have seen sales of €2.8 billion in the quarter, up almost 10%. This is a business where we have been a long time, we have a broad geographic spread of business and we’ve got a pretty diversified portfolio of products in those countries.”
What is your progress report on Genzyme’s Rare Diseases business? “The first think I think we want to say about Genzyme is that I think the integration has gone extremely well. When you think about the fact that we were marrying a French company with an American company, a biotech company – one of the original four biotech companies – with a Big Pharma, we probably made life as difficult as we could for ourselves with the integration and I must say I’m extremely pleased with way the teams have come together.”
See the full transcript here