Sanofi-Aventis Cuts Back

Feb.12.10 | About: Sanofi (SNY)

Sanofi-Aventis (NYSE:SNY) says that it cut 7% out of the R&D budget last year, and looks to keep on this same path this year. And that goes for merger and acquisition activity, although they seem to be staying away from the Great Big Deals. Here's a statement from their CEO in a recent interview:

“The best predictor of what we’ll do in 2010 is what we’ve done in 2009,” Viehbacher said in an interview in Paris. “When you do smaller to mid-sized deals, it is easier to search, complete a deal, and then hand it over to your line management and move on to the next deal. It’s when you do a big deal that the whole company gets bogged down in deciding whose e-mail system you’re going to use or where headquarters are going to be.”

All of this brings up a question. I've been hearing talk (which I haven't been able to verify) of re-orgs and layoffs in their US research sites recently. Anyone have any details?