Sanofi and Bristol-Myers Squibb restructure alliance

Sanofi has restructured its long-term alliance with Bristol-Myers Squibb to reflect the loss of exclusivity on a number of key products.

Due to the increased generic competition being faced by Plavix and Avapro/Avalide in Major markets, the companies have streamlined the partnership and simplified their operational responsibilities.

From January 1st 2013, Bristol-Myers Squibb will give back to Sanofi its rights to these two drugs in all markets worldwide with the exception of Plavix in the US and Puerto Rico, in exchange for royalty fees and a terminal payment in 2018.

This will allow Sanofi to operate with greater freedom and tallies better with both organisations' current business goals.

Hanspeter Spek, president for global operations at Sanofi, said: "The revised agreement further supports Sanofi's strategic priorities while continuing to offer the clinical benefits of these well-established products to millions of patients around the world."

This comes in the same week that Sanofi announced the appointment of Dr Paul Chew as its new senior vice-president, chief medical officer and head of global medical affairs.