Sanofi "Restructuring" Scheduled; Multaq Launch Not; Staff Worry About Layoffs

Recommended Sources

About Pharma Industry

BNET Pharma provides daily industry trends and news coverage with insights for managers and executives about major manufacturers of pharmaceuticals and medicine. In addition to detailed drug company profiles, we bring you industry analysis on new partnerships, drug patents and products, cost management, investments, pharmaceutical related lawsuits, and a host of other important business issues.

Tension is building at Sanofi-Aventis as the FDA’s approval letter for its new heart drug Multaq remains conspicuous by its absence and the company has a “restructuring ” announcement set for the week of June 29.

UPDATE: Sanofi “Restructuring” Looks Increasingly Like Layoffs

Reuters reported back in May that Sanofi expected the FDA’s approval letter in Q2 2009 following a panel recommendation. With only a few days of Q2 left, the letter remains “in the mail,” so to speak. Potentially, $3 billion in revenues are on the line with Multaq.

Separately — or not! — Sanofi has scheduled a “major restructuring” announcement for the week of June 29. The news was leaked by CGT, the French union at Sanofi.

Some on CafePharma have interpreted “restructuring” as “more layoffs on the way.” Also on that somewhat reliable bulletin board: confusion as to whether there are vacancies on the Multaq selling force or not, and reps already on the force are allegedly doing a whole lot of not very much while they wait for the FDA decision.

The events have an ominous feel. Sanofi already went through a round of layoffs last winter, but we know that CEO Chris Viehbacher (pictured) remains focused on operating productivity.

Tags: Layoff, FDA, Restructuring, CEO, Sanofi, Tension, Workforce Management, Federal Government, Human Resources, Government, Jim Edwards

Jim Edwards, a former managing editor of Adweek, has covered drug marketing at Brandweek for four years, and is a former Knight-Bagehot fellow at Columbia University's business and journalism schools. Follow him on Twitter or send him an email.

BNET User Analysis

Voice your 2cents

Web Buzz:

FDA panel backs Sanofi's megablockbuster Multaq

FierceMarkets - 249 days 13 hours 9 minutes ago

An expert panel at the FDA voted 10 to 3 in favor of recommending approval of Sanofi-Aventis' new heart drug Multaq. But investors seemed largely unmoved by the endorsement of the drug--widely seen as Sanofi's most important near-term prospect--at least in part because of some recommended restrictions that will dull its earning power....
Canada approves Multaq

Scrip News - 103 days 10 hours 16 minutes ago

Canada has approved Sanofi-Aventis's Multaq (dronedarone) following its approval in the US last month, says the company. Health Canada gave the drug the green light for reducing the risk of cardiovascular hospitalisation in patients
Potential Sanofi blockbuster gets FDA staff endorsement

FierceMarkets - 252 days 11 hours 28 minutes ago

With an expert panel review looming on Wednesday, the leader of the FDA's drug review team says that Sanofi-Aventis' Multaq--a prospective blockbuster--should be approved for treating a common heart rhythm problem. Multaq "should be approved for the delay and recurrence of symptomatic events and decrease hospitalization for atrial...
Sanofi's Multaq Unlikely to Be a Blockbuster, Says Analyst

BNET Pharma - 48 days 9 hours 16 minutes ago

Before Sanofi-Aventis launched its heart drug Multaq, some analysts estimated revenues would top €3 billion. But 10 weeks into the launch, Multaq
Sanofi-Aventis wins big with Multaq approval

FierceMarkets - 144 days 13 hours 30 minutes ago

After a long, dry spell, Sanofi-Aventis#039 pipeline has finally produced a winner. The FDA has approved its blockbuster heart therapy Multaq. While expected , the news Thursday morning raised a swift cheer from the ranks of stock analysts. Sanofi has estimated Multaq#039s earnings potential at more than €1 billion a year. And some...