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Christopher Viehbacher, chief executive officer said, "The objective of this new R&D model is to propose innovative solutions that respond to specific, unmet needs of patients and continue our success in a very competitive international environment."
The restructuring in Paris will involve nearly 650 employees and the combining of discovery and research establishments. The facilities at Bagneux, Rueil-Malmaison and Evry sites, employing approximately 300 personnel, are to be transferred to the Chilly-Mazarin site. In the Toulouse area, the Labège site's activities and its personnel of about 150 are to be shifted to the Toulouse site. The company is also exploring divesting the Porcheville site, which employs nearly 200 people.
Sanofi-aventis also said some research sites in Spain, the United Kingdom, the United States and Japan, would be either divested or reconverted for other purposes.
The restructuring comes at a time when the company's third largest selling drug Lantus is facing some controversy. A report published in Diabetologia recently suggested a possible link between Lantus insulin for diabetes and a higher risk of cancer. Sanofi-aventis rejected the claim saying, "Given the extensive clinical evidence covering over 70,000 patients and the results of post-marketing surveillance arising from 24 million patient-years of experience, sanofi-aventis stands behind the safety of Lantus. We consider that the results of these patient registries are not conclusive."
Despite the reorganization of research and development activities, Sanofi-aventis confirmed its intention to maintain its level of investments in research, remain firmly rooted in France, create partnerships with public and private research entities, academic institutions and biotechnology companies, and bring new skills to the company through recruitment of promising researchers.
SNY closed Tuesday's trading at $29.49, up $0.01 or 0.03%, on a volume of about 3.77 million shares.
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