Sanofi visited amid China investigations
Ministry of industry and commerce visits office of French pharmaceutical company in Shenyang
Sanofi chief executive Chris Viehbacher said China’s ministry of industry and commerce had come to the company’s office in Shenyang, but the reason for the visit was not yet clear.
Chinese officials this week visited a regional office of Sanofi, the French pharmaceutical company, in the latest expansion of investigations of western drugmakers.
Chris Viehbacher, chief executive, said the ministry of industry and commerce had come to Sanofi’s office in Shenyang, but the reason for the visit was not yet clear.
His comments came as Sanofi posted second-quarter results below expectations despite strong sales in China and 2013 guidance to a 7-10 per cent fall on 2012’s business earnings of €6.14 a share.
Mr Viehbacher stressed his continued commitment to Chinese investment and expansion. Sanofi is one of the biggest western-based pharmaceutical groups in China.– Copyright The Financial Times Limited 2013