Sanofi pledged to expand the cost savings plan at the centre of chief executive Paul Hudson’s turnround programme after beating expectations for 2020.
Strong sales of the French group’s flu shots in the fourth quarter helped offset lower demand for its cardiovascular and diabetes drugs as the spread of coronavirus prompted many to stay away from doctors’ offices and hospitals.
Sanofi, which is one of the world’s biggest vaccine makers, confirmed that it aims to get a Covid-19 shot to market by the fourth quarter. In December, it stunned investors and disappointed countries who bankrolled the jab when a dosing error in a clinical trial delayed the vaccine’s progress by three to six months.
The mishap left Sanofi trailing competitors BioNTech/Pfizer and Moderna, whose vaccines are being administered to millions globally.
“We continue to work in parallel on our two Covid-19 vaccine candidates, with clinical trials starting in the coming weeks,” the…