Sanofi's New Diabetes & CV Head Guenter Has Difficult Job Ahead
Sanofi SA's CEO Olivier Brandicourt has shaken up his top management team for the second time since taking over the reins last year, changing the head of its key diabetes franchise in an urgent effort to turn things round. He clearly hopes Peter Guenter's wide-ranging commercial insights can help achieve that.
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Sanofi is putting more pressure on Medivation to accept its $9.3bn acquisition offer by proposing to replace the biotechnology company's and Xtandi developer's entire board of directors.
Sanofi clearly would benefit from its proposed $9.3bn purchase of Medivation Inc. based on the French company's first quarter earnings, which show a pharmaceuticals business that's suffering from competition, US drug pricing pressures and foreign currency exchange issues.
Seven months into the job and the shine is wearing off Sanofi's new CEO Olivier Brandicourt. His first 'Meet the Management' investor day on Nov. 6 left analysts underwhelmed and shares slipping.