Sanofi stock rout highlights pressure for company to seek new medicines

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Belgique Nouvelles Nouvelles

Most recent setback is the failure of the breast cancer pill amcenestrant, which Sanofi had touted as having strong commercial potential

Sanofi’s recent stock rout underscores the pressure on the French drug maker to redouble its efforts in the hunt for new medicines.

“My belief is that [the stock price] recovery will come because of an incredible disconnect between the fundamentals of the company and its valuation,” finance chief Jean-Baptiste de Chatillon told Reuters last week.. For Markus Manns, portfolio manager at Germany-based Union Investment, which holds Sanofi stock, this is misplaced optimism following the failure of amcenestrant.

That is piling pressure on Hudson, a former Novartis executive, who was tasked with reviving the share price and simplifying the business centred on vaccines, immunology, rare diseases and oncology.

 

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