This content is not available in your region

Sanofi pledges to keep up restructuring efforts

Access to the comments Comments
By Reuters
Sanofi pledges to keep up restructuring efforts
FILE PHOTO: The logo of Sanofi is pictured during the Viva Tech start-up and technology summit in Paris, France, May 25, 2018. REUTERS/Charles Platiau/File Photo   -   Copyright  Charles Platiau(Reuters)

PARIS (Reuters) – Sanofi <SASY.PA> said it would continue to implement cost savings after having reached a 1.5 billion euros (1.33 billion pounds) cost reduction target a year ahead of expectations.

“It’s only the beginning, and we will continue to be very efficient in the space of cost savings and cost management,” Chief Executive Olivier Brandicourt told investors at a Bank of America Merrill Lynch conference in London.

The CEO did not elaborate further but referred to a reorganisation of Sanofi’s global business units unveiled earlier this week.

(Reporting by Matthias Blamont; Editing by Sudip Kar-Gupta)