Budget chainsaw may miss Sanofi manufacturing

Sanofi's ($SNY) manufacturing operations in France may be spared cuts as the company makes further reductions in operations. A spokesman confirmed to Reuters that the company is looking at cutbacks there, but said manufacturing operations would not be included. A French daily newspaper earlier in the day reported that Sanofi planned to cut 1,000 to 2,000 jobs in France, targeting research and manufacturing operations of the vaccines unit as well as support staff in the company's headquarters, Reuters says. Sources told the news agency that CEO Chris Viehbacher informed employees that the company was cutting an unspecified number of positions at its Toulouse and Montpellier sites, but the cuts would come from early retirements, voluntary buyouts and some transfers. Like other companies, Sanofi faces a tepid earning picture as some of it drugs lose patent protection. In March, it told the 450 workers at a plant in Fawdon, U.K., where it makes the blockbuster Plavix, that the facility would close by 2015. Sanofi lost exclusivity on Plavix in May.  Story | More



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