Sanofi, based in France and one of the world largest multinational pharmaceutical companies in the world, has announced a new round of layoffs in its continuing restructuring program to meet competitive pressures.
Published reports indicate that the new round of workforce adjustments will result in at least 400 layoffs in their United States sales force, mostly involved with Sanofi’s diabetes and cardiovascular products.
It is no secret that drug-makers are being subject to expiring protections on lucrative proprietary drugs, bio-similar compounds, and competitive purchasing pressures from distributors who are kicking back incentives to large institutions. In addition, most drug manufacturers are reducing their direct-to-physician contracts in favor of advertising using both mainstream media and internet channels aimed at a targeted audience.
Of course, the company was quick to employ corporate-speak, using spokesperson Ashleigh Koss to explain that the reduction in force will "enable us to continue to adapt to the ever-changing market, and allow us to focus on our recent launches while setting us up for success in the future.” She could have easily added, “move along, nothing new to see here folks.”