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Sanofi's CEO To Present At JPMorgan Global Healthcare Conference (Transcript)

Sanofi (SNY)

JPMorgan Global Healthcare Conference Call

January 10, 2012 00:30 pm ET

Executives

Chris Viehbacher - CEO

Analysts

Alexandra Hauber - JPMorgan

Presentation

Alexandra Hauber - JPMorgan

Ladies and gentlemen, we continue on our large cap pharma track this morning in this room. I'm Alexandra Hauber, European pharma analyst at JPMorgan and I'm very pleased now to introduce Chris Viehbacher, CEO of Sanofi.

Chris will give a 25 minute presentation in this room and then he will be available for your questions at the breakout session in the [Borja] room across the hall. Chris, the floor is yours.

Chris Viehbacher

Thank you, Alexandra. Good morning, everybody and I think we can still wish everybody a Happy New Year; on into the second week of the year. Just if I could, 2012 has been one of those years that’s been circled in red in Sanofi calendars now for at least five years. It’s of course, the year of the infamous patent cliff and one that obviously a number of companies in our industry are facing. Pretty much three years ago when I joined the company, my focus was all around 2012. And it wasn't really so much how were we going to compensate for the loss of sales, but really how were we going to transform the company so that we didn't go through this again.

I always am fond of saying that this is my fourth patent cliff in my career and my principle objective was to avoid a fifth. So how do you avoid the fifth patent cliff? Well, the first thing you've got to avoid are patents on small molecule assets. So what we decided to do was really invest in growth platforms that where we saw that there was competitive advantage or other barriers of entry that didn't protect, that protected the business beyond the patent.

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