Sanofi engages in the research and development, manufacturing and marketing of pharmaceutical drugs. The firm also develops over-the-counter medication. Originally, the company was formed in 1973 and the current incarnation was formed as Sanofi-Aventis in 2004. It changed its name to Sanofi in May 2011 and is now the world’s fifth-largest pharmaceutical company by prescription sales.
About Sanofi in brief
Sanofi engages in the research and development, manufacturing and marketing of pharmaceutical drugs. The firm also develops over-the-counter medication. The company covers seven major therapeutic areas: cardiovascular, central nervous system, diabetes, internal medicine, oncology, thrombosis and vaccines. In 2017, Sanofi’s dengue vaccine Dengvaxia garnered controversy because it caused some vaccinated young children to have more cases of severe d Dengue. Sanofi is a component of the Euro Stoxx 50 stock market index. Originally, the company was formed in 1973 and the current incarnation was formed as Sanofi-Aventis in 2004, by the merger of Aventis andSanofi-Synthélabo, which were each the product of several previous mergers. It changed its name to Sanofi in May 2011 and is now the world’s fifth-largest pharmaceutical company by prescription sales. It was founded in 1973 as a subsidiary of Elf Aquitaine when Elf took control of the Labaz group, a pharmaceutical company formed in 1947, by Sociéte Belge de l’Azote et des Produits Chimiques du Marly. In 1994, the French cosmetics group L’Oréal acquired the majority of its share capital. In 1993, Sanoof made a move into the Eastern Europe market by acquiring a controlling interest in Chinoin, a Hungarian drug company that had about US$104 million in sales in 1992. In 1999, when Sanofi merged with Synthé labo, at the time of the merger Sanofi was the second largest pharmaceutical group in France in terms of sales.
In 2000, a big pharmaceutical company and a biotech company formed to discover new drugs based on the then-new science of genomics, announced that a US biotechnology company would make a 250MM investment in Millennium and pay 200MM in fees over five years. In the late 2000s, in the midst of the Starlink maize recall of genetically modified maize, a Sanofi subsidiary announced that it would pay 250M to Millennium to pay for genetically modified Starlink. The deal was one of the largest pharmaceutical deals between a big pharma company and biotech company at that time. In 2009, the U.S. drug company Pfizer announced it would buy Sanofi and Millennium Pharmaceuticals for $12.5 billion. In 2010, Sanooki announced it was buying Sanookis for $11.5billion. In 2012, Sanooksi announced that they would be ceasing all research into genetically modified organisms ( GM- organisms) in order to focus on their own products. In 2013, Sanokoi announced they would no longer be developing genetically modified GM-modified organisms (GMOs) in the future. In 2014, the firm announced it had stopped developing GM- modified organisms in the United States. In 2015, Sanoki announced its plans to stop developing GM products in the US in the wake of the GM-resistant Stem cells controversy.
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This page is based on the article Sanofi published in Wikipedia (as of Dec. 11, 2020) and was automatically summarized using artificial intelligence.
