Log in
Forgot password ?
Become a member for free
Sign up
Sign up
Dynamic quotes 

4-Traders Homepage  >  Equities  >  Euronext Paris  >  Sanofi    SAN   FR0000120578

Mes dernières consult.
Most popular
News SummaryMost relevantAll newsSector newsTweets

SANOFI : Former Sanofi employees convicted of bribery in Germany

share with twitter share with LinkedIn share with facebook
share via e-mail
03/03/2014 | 07:24pm CET

FRANKFURT (Reuters) - A German court convicted two former employees of Sanofi-Aventis on bribery charges 10 months ago and imposed a fine on the French drugmaker last year, prosecutors said on Monday following a newspaper report.

News of the 28 million euro ($39 million) fine coincides with heightened scrutiny of Big Pharma's sales practices after a bribery scandal in China hit business there last year.

Further investigations are ongoing, a spokesman for prosecutors in the northern German town of Verden said, confirming a report by German daily newspaper Frankfurter Allgemeine Zeitung, but they declined to say whether these were related to Sanofi or to its employees.

The spokesman said an investigation of the former Sanofi employees found that they had made illicit payments to a consultancy advising one of the drugmaker's clients between 2007 and 2010 to win more orders from the client, a pharmaceuticals dealer.

"Sanofi was unfairly given preference because of this," he said.

He declined to provide details on who the client was or which markets it operated in. He also did not name the former Sanofi employees or the consultant.

A court in the town of Winsen handed the two former employees of Sanofi suspended sentences for bribery in business transactions in May 2013, the spokesman said. They both worked with Sanofi's sales force and were not senior managers.

The Winsen court also ordered that punishment be meted out to the owner of the consultancy, but that judgment was not yet final due to a pending complaint against the ruling.

The bribery investigation has not come to light until now because the suspects were sentenced via a simplified legal process that under German law allows courts to try some crimes without a courtroom trial.

The court's ruling also resulted in a 28 million euro fine for Sanofi. A spokeswoman for Sanofi-Aventis Deutschland GmbH confirmed the company had to pay that sum in connection with the case against the two former employees.

"For Sanofi the matter is closed," the spokeswoman said, referring to the Winsen court's rulings. She added the company had cooperated with authorities during the investigation and had since further tightened its compliance system.

Sanofi acquired Aventis in 2004, creating Sanofi-Aventis. In 2011, the company simplified its name to Sanofi.

(Reporting by Maria Sheahan and Frank Siebelt; Additional reporting by Natalie Huet in Paris; Writing by Marilyn Gerlach; editing by Mike Collett-White)

share with twitter share with LinkedIn share with facebook
share via e-mail
Latest news on SANOFI
02/23SANOFI : Hart-Scott-Rodino waiting period expires for Sanofi’s acquisition..
02/23ImmunoMet Therapeutics Appoints Vincent ONeill Chief Medical Officer
02/23SANOFI : Says U.S. Waiting Period for Bioverativ Has Expired
02/23SANOFI : Hart-Scott-Rodino waiting period expires for Sanofi's acquisition of Bi..
02/23SANOFI : Hart-Scott-Rodino waiting period expires for Sanofi's acquisition of Bi..
02/23SANOFI : extends its `Empowering Life` corporate rebrand with overhaul of digita..
02/21SANOFI : forms new alliance with CRN Greater Manchester
02/20SANOFI : anofi diverting attention from real issues' -- Gordon
02/20SANOFI : firm against full refund, financial aid to Dengvaxia recipients
02/20SANOFI : Manchester CRN gets Premier Site status from Sanofi
More news
News from SeekingAlpha
02/23ROTY EDITION 1 VOLUME 82 : Launch Preview And Adding To A Position 
02/23HSR waiting period over for Sanofi's purchase of Bioverativ 
02/22Tracking Jeffrey Ubben's ValueAct Portfolio - Q4 2017 Update 
02/22ACETO : Collapsing Generic Drug Pricing Brings Risk Of Covenant Violations 
02/21ROTY EDITION 1 VOLUME 81 : We Have A Launch Date! 
Financials (€)
Sales 2018 35 367 M
EBIT 2018 8 919 M
Net income 2018 5 324 M
Debt 2018 11 557 M
Yield 2018 4,71%
P/E ratio 2018 15,07
P/E ratio 2019 13,70
EV / Sales 2018 2,64x
EV / Sales 2019 2,47x
Capitalization 81 965 M
Duration : Period :
Sanofi Technical Analysis Chart | SAN | FR0000120578 | 4-Traders
Technical analysis trends SANOFI
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus OUTPERFORM
Number of Analysts 28
Average target price 83,0 €
Spread / Average Target 28%
EPS Revisions
Olivier Brandicourt Chief Executive Officer & Director
Serge Weinberg Chairman
Jérôme Contamine Chief Financial Officer & Executive VP-Finance
Elias A. Zerhouni President-Global Research & Development
Yong-Jun Liu Head-Global Research & Development
Sector and Competitors
1st jan.Capitalization (M$)
SANOFI-9.46%100 822
JOHNSON & JOHNSON-7.02%349 006
NOVARTIS-2.94%224 221
PFIZER-1.27%213 155
ROCHE HOLDING LTD.-9.41%207 327
MERCK AND COMPANY-3.06%148 618