(Reuters) – Sanofi will adopt a simplified structure centered around five global business units starting in January 2016 to promote growth, the French drugmaker said on Wednesday, as it prepares a new strategic plan to be unveiled in November.
The company said the 5 would be: general medicines & emerging markets, specialty care, diabetes & cardiovascular, Sanofi Pasteur for vaccines, and Merial for animal health.
The composition of Sanofi’s executive committee remains unchanged, the company said.
Sanofi had previously focused attention on 7 “growth platforms,” but had different divisional setups varying from country to country.
The reorganization is Sanofi’s 1st since Olivier Brandicourt took the helm in April, following the sacking last October of previous CEO Chris Viehbacher, who had clashed with the board.
Shares in Sanofi closed up 0.81 percent to 97.4 euros on Wednesday.
Brandicourt told unions in June he would present a 5-year strategic plan next November, after Sanofi’s 3rd-quarter results, labour representatives told Reuters.
“This simplification is a good sign. It may be a 1st step” (towards that November strategy plan), Florent Cespedes, an analyst with Societe Generale, said.