Sanofi-Aventis Chief Executive Officer, Christopher Viehbacher has announced that the company would continue to seek for deals up to $2.6 billion this year as "bolt-on" acquisitions to build on the increased profile it has achieved at global scale after pulling off the $20.1 billion takeover of Genzyme last year.
The takeover of Genzyme, the largest maker of medicines for rare genetic disorders, last year has opened up avenues for Sanofi in innovative treatments that are less vulnerable to generic competition. Touted as the second largest biotech deal on record, the takeover, according to Dominic Valder, an analyst at Evolution Securities, has transformed patent cliff of Sanofi into a "patent plateau”, allowing flat earnings at least for the next three years.
Building on the Genzyme takeover, Viehbacher added that the current state of the company is satisfactory and that the company only seeks to expand itself in fields that are out of focus by other companies. Quoting that "The trick in M&A is to go find something not everybody is looking at,", Viehbacher declared that Sanofi-Aventis will look for deals to grow in animal healthcare rather than going for acquisition in the Hepatitis C business hotly pursued by other companies.
Sanofi-Aventis was formed in 2004 by the merger of Aventis and Sanofi-SynthÃ©labo and has evolved into a multinational pharmaceutical company which is one of the key stakeholders in the biopharmaceutical industry. Being headquartered in Paris, France, it is the world’s fourth-largest biopharmaceutical firms by prescription sales and engages actively in research and development, manufacturing and marketing of pharmaceutical products for prescription sale as well as over-the-counter medication. The company covers 7 major therapeutic areas: cardiovascular, central nervous system, diabetes, internal medicine, oncology, thrombosis and vaccines, being the world’s largest producer of vaccines.
The 5th annual BioPharma Asia Convention 2012 is honoured to be graced by speakers of Sanofi-Aventis from around the world who will address various issues in the biopharmaceutical industry. Hemant Pachnanda, Director of Strategy and Business Development in Sanofi-Aventis Singapore will be speaking on pharma partnering and investment while Trang Nguyen Hoang Hanh, Head of Medical Affairs and Clinical Operations in Sanofi-Aventis Vietnam, will address issues related to pharma trials. Meanwhile, Sam Zhou, Head of Security for Asia Region in Sanofi-Aventis China will be one of the speakers for Pharma & Biotech Supply Chain World Asia 2012.
Don't miss the chance to hear more from these distinguished Sanofi-Aventis speakers!
Download our brochure here to find out more about the event!