Global pharmaceutical company Sanofi plans to cut between 1,000 and 2,000 jobs in France, according to local reports.
French newspaper Le Figaro claimed that the move will affect research, support operations at the drug maker's headquarters in Paris and manufacturing at the Sanofi Pasteur vaccines unit.
Citing unnamed sources, the paper says that Sanofi cut 4000 jobs between 2009 and 2011.
In September 2011, the company disclosed plans to shrink its R&D headcount to 10,000 from 13,000 - excluding Genzyme, the maker of drugs for rare genetic disorders.
Sanofi said at the time that 2011 sales of key genericised products are expected to decline to about €3bn from €7.6bn in 2008.
The loss was attributed to the impact on profit contribution from Plavix, a drug used to inhibit blood clots, and Avapro, a treatment designed to lower blood pressure, in the US following the end of exclusivity in May 2012 and March 2012, respectively.
Meanwhile, Sanofi has revealed it is divesting its 19.3% stake in consumer products company Yves Rocher Group to Société Financière des Laboratoires de Cosmétologie Yves Rocher.
Upon closing of this transaction, which is expected to take place before the end of the third quarter in 2012, the Rocher family will control more than 95% of the group's capital.
Image: The job cuts are expected to affect support operations at Sanofi's headquarters in Paris. Image courtesy of: Daniel Rousselot.
Twitter