Sanofi Plant, Key to New Drugs, Wins Tentative U.S. Backing
- Formal inspection at Normandy site expected this quarter
- Drugmaker sees adjusted EPS stable to down 3% this year
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Sanofi’s efforts to fix manufacturing deficiencies at a crucial French site won the tentative backing of U.S. regulators, alleviating concern about two new medicines key to growth.
The Food and Drug Administration has “deemed our Le Trait plant to be acceptable,” Chief Executive Officer Olivier Brandicourt said on a conference call. That’s no official clearance, though: a formal inspection will take place this quarter, he said. Sanofi rose as much as 3.8 percent in Paris trading, the steepest gain in three months.