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Sanofi appoints Oelrich as executive VP at Diabetes & Cardiovascular arm
October 2, 2017 / 1:12 PM / 16 days ago

Sanofi appoints Oelrich as executive VP at Diabetes & Cardiovascular arm

PARIS, Oct 2 (Reuters) - Sanofi said on Monday it had appointed Stefan Oelrich to the position of executive vice president at its diabetes and cardiovascular arm, with Oelrich replacing Peter Guenter who left Sanofi in August after more than two decades at the group.

Oelrich was previously head of the global diabetes franchise at Sanofi.

Sanofi has forecast currency-adjusted sales at its embattled diabetes business to shrink by 4-8 percent per year between 2015 and 2018 due to increased pricing pressure in the United States.

In 2016, sales of the diabetes and cardiovascular division at Sanofi had fallen by 2 percent at constant exchange rates to 6.4 billion euros ($7.52 billion).

The company, however, sees new drugs such as Toujeo - a next-generation insulin launched two years ago to follow patent-expiring Lantus - and Praluent, a cholesterol treatment differing from statins, as key future growth drivers.

It also expects a boost from partnerships with companies such as Google.

Guenter left Sanofi to become chief executive of Spanish pharmaceuticals group Almirall.

$1 = 0.8506 euros Reporting by Matthias Blamont; Editing by Sudip Kar-Gupta

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