Sanofi plans on laying off 20 percent of the company’s diabetes and cardiovascular staff, the Boston Business Journal reports.
A Sanofi spokeswoman told the newspaper that the company had offered some employees separation packages.
In 2015, the FDA approved alirocumab (Praluent), an injectable medication from Sanofi and Regeneron Pharmaceuticals to lower low-density cholesterol. However, the drug’s sales have fallen short of expectations.
The Boston Business Journal mentioned that Sanofi’s sales decreased 2.5 percent in the third quarter.
Read the full article below:
Executive Editor
Tim Casey joined TriMed Media Group in 2015 as Executive Editor. For the previous four years, he worked as an editor and writer for HMP Communications, primarily focused on covering managed care issues and reporting from medical and health care conferences. He was also a staff reporter at the Sacramento Bee for more than four years covering professional, college and high school sports. He earned his undergraduate degree in psychology from the University of Notre Dame and his MBA degree from Georgetown University.