Sector News

Sanofi Genzyme trims 130 workers at Boston plant

February 9, 2018
Life sciences

Sanofi Genzyme, which specializes in rare diseases, said it will let go of 130 workers at its Allston Landing biomanufacturing facility in Boston.

News of the layoffs comes on the heels of Sanofi reporting strong fourth-quarter global growth of 16.8% for the unit “due to contributions from the new immunology franchise,” the company reported Wednesday. For the full year, Genzyme’s global sales were up 15.2% at $6.97 billion.

Overall, however, Sanofi reported a 29.5% fourth-quarter decline ($897 million) and 22.8% ($3.84 billion) slide for the year that some analysts partly attribute to a hit to sales of its diabetes drugs Lantus and Toujeo on CVS Health and UnitedHealthcare formulary exclusions.

Sanofi bought Genzyme in 2011 for more than $20 billion. Sanofi has about 5,000 employees in Massachusetts located at six sites in the state.

“We are currently implementing a change at our Allston Landing plant that will result in a reduction in headcount,” Sanofi spokeswoman Ashleigh Koss told Fierce in an e-mail. “This change is associated with the outsourcing of certain aspects of the production process and various improvements to technology and operations that have been implemented. As a result, we are reducing staffing levels to more closely align with the current level of activity at the site.”

Like others in the industry, Sanofi has adapted to tougher payer tactics by reshaping itself partly through M&A and layoffs. As part of those efforts, the company noted Wednesday of the possible sale of its European generics business. That sale could happen in the second half of 2018. Reports have pegged the unit value at around $2.4 billion with two drugmakers and several private equity companies the likely bidders.

By Joseph Keenan

Source: Fierce Pharma

comments closed

Related News

May 15, 2022

Novo Nordisk and Flagship Pioneering announce a strategic collaboration to create a portfolio of transformational medicines

Life sciences

The companies will explore opportunities to apply Flagship’s innovative bioplatforms – an ecosystem that currently comprises 41 companies – to scientific challenges in disease areas within cardiometabolic and rare diseases and initiate research programmes based on these.

May 15, 2022

BD, Babson set sights on bringing simple blood collection into the home

Life sciences

BD is expanding its long-running partnership with the blood collection company Babson Diagnostics. The two companies have been working together since 2019 on a device that can gather small volumes of blood from the capillaries in the fingertip without requiring any specialized training, and beginning with a focus on supporting primary care in retail settings.

May 15, 2022

CSL’s $11.7B Vifor buy, 2021’s biggest biopharma M&A deal, hits antitrust delay

Life sciences

Wednesday, Australian biotech CSL said (PDF) the regulatory review of its $11.7 billion acquisition of Switzerland’s Vifor Pharma will take “a few more months,” suggesting it won’t be able to close the transaction by June 2022 as previously expected.