Sanofi to Terminate US Diabetes (?) Employees as Part of "Sizable" Cut | Pharmaguy's Insights Into Drug Industry News | Scoop.it
Layoffs are expected at Sanofi, with most of the cuts probably happening in the United States.


Chris Viehbacher was sacked amid unusually public boardroom tumult, notably a conflict with Sanofi chairman Serge Weinberg. His departure followed an unexpected strategic setback as the drug maker dialed back sales forecasts for its all-important diabetes business, which is about 21 percent of overall sales.


Meanwhile, a follow-on product is not showing signs of generating needed replacement revenue and a biosimilar version of Lantus will become available at the end of this year. And a deal to sell the MannKind inhaled insulin product known as Afrezza was just ended due to terrible sales.


“They’re facing a very difficult situation,” said David Kliff of Diabetic Investor, who expects the cuts to be significant. “Their top diabetes product is going away and replacement products are not doing well. They have no choice but to reorganize.”