Sanofi, France's biggest drugmaker, said it plans to increase earnings by more than 5 per cent annually and trim costs by €2 billion in the next four years.

Sales should grow by at least 5 per cent a year from 2012 to 2015, the Paris-based company said in a statement. Earnings per share will increase more than revenue, the company said, without being specific.

Today's forecasts are the first from the company that include this year's $20.1 billion acquisition of Cambridge, Massachusetts-based Genzyme, the biggest purchase by chief executive Chris Viehbacher since he joined in 2008. The cost cuts will come from the integration of Genzyme, which will contribute $700 million, as well as "new initiatives".

"The focus has shifted to 2015 as people try to gain a perspective on the dynamic of the company," Mr Viehbacher said on a conference call with reporters. "We are essentially pointing out a new investment thesis. It is first and foremost based on a return to growth for Sanofi following the patent cliff."

Mr Viehbacher began downsizing Sanofi's research and development operations after taking over in 2008. Even after shutting plants, dropping the least promising projects and reshuffling jobs, the 51-year-old executive said a year ago Sanofi's research and development is "a work in progress".

Six new medicines will be presented to regulators between July and next March, the company said in today's statement.

Bloomberg