Sanofi Says It's Not Moving Corporate Headquarters Out of Paris

Sanofi, France’s biggest drugmaker, isn’t moving its headquarters out of central Paris, a spokesman said.

“We have no intention to leave our headquarters at 54 Rue la Boetie,” the spokesman, Jack Cox, said by telephone Saturday.

Bloomberg News reported Friday that people familiar with the matter said Sanofi was discussing a move to Gentilly, a town south of Paris where it already has offices, as a cost-saving measure. Chief Executive Officer Olivier Brandicourt pledged in November to reduce expenses by 1.5 billion euros ($1.7 billion) to help sustain earnings growth through 2020.

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