Its diabetes treatments have faced generic competition for several years and the company said that this decision will enable it to adapt to market changes and to continue to focus on recent launches. However, the restructuring expenses and savings targets were undisclosed.
The company announced sales of €9.05 billion (US$11.14 billion) in third quarter 2017, up by 4.7% from €9.03 billion (US$11.12 billion) a year earlier. However, diabetes and cardiovascular unit sales fell by 9.1%, from third quarter 2016 to €1.66 billion (US$2.04 billion) due to poor uptake of its insulin/GLP-1 combination Soliqua and pricing pressure in the US on Toujeo and Lantus. In addition to the pressure on diabetes treatments, sales of Sanofi's cholesterol-buster PCSK9 drug Praluent totaled only €41million (US$50.47 million), €12 million (US$14.77 million) below expectations.