Sanofi shares rally on new margin goals, narrow drug focus

, the company, which also announced cost savings targets and a goal to boost margins, is trying to zoom in on potential blockbuster drugs.

It now wants to reverse this course under new Chief Executive Paul Hudson, poached from Novartis in September, ending research in diabetes and cardiovascular diseases. Sanofi shares were up 4.7% in morning trading, at 85.73 euros each. The company is due to set out more details of its strategic plans later on Tuesday in Cambridge, Massachusetts.It highlighted the potential for some new launches like Dupixent, an eczema treatment approved in other therapeutic areas such as asthma, which it said could reach over 10 billion euros in sales from under 1 billion euros in 2018.Sanofi also announced a target to reach a core operating margin of 30% by 2022, up from 25.

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Sanofi growth cure comes with M&A health warningThe 108 bln euro drugmaker is cutting costs, exiting areas like diabetes, and hinting it might sell assets. It’s a bold but logical move to boost the group’s flagging sales. New CEO Paul Hudson’s main other task is to show he can shake off Sanofi’s mixed dealmaking track record.
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