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PARIS May 10 Sanofi is currently
looking at several external growth opportunities, after having
failed to clinch two large deals recently, but feels it has no
urgent need to make acquisitions, the drugmaker's chairman told
shareholders on Wednesday.
"There is a certain number of targets that we are looking at
and if we think there are indeed transactions that can be
achieved, we will consider them," Sanofi's Board Chairman Serge
Weinberg said during the French company's annual meeting in
"However, there is no 'absolute necessity' to conduct these
transactions. The group's (internal) dynamic is satisfactory,"
Sanofi is under some pressure from investors to land a
significant acquisition in order to better resist a tough
pricing environment in the United States, the world's largest
The group missed out to U.S Johnson & Johnson on
buying Switzerland's biotech Actelion in January - a $30 billion
deal - and was also beaten in August last year by a $14 billion
bid for cancer specialist Medivation from Pfizer.
Weinberg refused to spell out details on Wednesday but said
that innovative products were mostly located in Europe and the
United States and that Sanofi had a lot of "flexibility"
"At the same time, we will be disciplined (financially),"
(Reporting by Matthias Blamont; Editing by Leigh Thomas)