7. Sanofi

Sanofi CEO Paul Hudson
Paul Hudson joined Sanofi in 2019 and has unveiled a strategy to refocus the company. (Sanofi)

2019 revenue: $40.51 billion (€36.17 billion)
2018 revenue: $38.59 billion (€34.46 billion)
Headquarters: Paris, France

Sanofi went through quite a lot of changes in 2019, culminating in a year-end review and brand-new strategy.

In June, the drugmaker unveiled a leadership shakeup, announcing that CEO Olivier Brandicourt would step down and then-Novartis exec Paul Hudson would take the reins.

Under Hudson, the company is steering toward therapeutic fields where it thinks it can lead and away from cardiovascular and diabetes, where it has a rich history. At a December strategy event, the CEO said Sanofi would back away from R&D in those fields while doubling down in others.

It's not an entirely surprising pivot; the decision follows M&A deals Brandicourt engineered to bolster Sanofi's presence in rare diseases. But what is new is Hudson's focus specifically on R&D projects where Sanofi can either be first-in-class or best-in-class.

RELATED: CEO Paul Hudson has sharp words for Sanofi's mistakes—and a pointed plan he thinks will fix them

Sanofi is also looking to trim costs under its new helmsman. To that end, the drugmaker has unveiled an annual savings goal of €2 billion by 2022, by shedding jobs, tightening manufacturing budgets, improving purchasing and more. Late in 2019, Sanofi execs said the company’s efforts would result in €600 million in 2019 savings.

Another big part of the company’s future is Dupixent, Hudson has said. He’s focused on turning the drug into a €10 billion-per-year product. After its initial approval in atopic dermatitis, Sanofi is launching in that indication globally and adding on new approvals in key markets. Dupixent has also picked up green lights in asthma and sinusitis with nasal polyps.

RELATED: Dupixent sales of €10B? We're on track, Sanofi CEO Hudson says

Another big step for the drugmaker in recent months was its approval for multiple myeloma drug Sarclisa, which marked Sanofi’s first wholly owned oncology drug approval in a decade. An exec said the approval marked an important “return” to the field for the drugmaker.

Meanwhile, the company has also sought to reorganize its antibody partnership with Regeneron. The companies agreed in December to split up rights on Praluent and Kevzara so they could focus on Dupixent, but now that Kevzara is in testing against COVID-19, they've decided against splitting up on that drug.

7. Sanofi