Sanofi says doors "wide open" to EU drugs probe

* Sanofi to cooperate fully with antitrust investigation

* CEO says probe involves generic drugs, no other details

By Caroline Jacobs

PARIS, Oct 8 (Reuters) - French drugmaker Sanofi-Aventis (SASY.PA) has nothing to hide from EU antitrust regulators and is ready to cooperate fully with their investigations, the company's chief executive said on Thursday.

Earlier this week, EU regulators raided several pharmaceutical companies, including Sanofi, who are suspected of violating EU antitrust rules. [ID:nL6367611].

Commenting on the EU raids, CEO Chris Viehbacher told Reuters on the sidelines of a presentation that Sanofi "had its doors wide open to cooperate fully" with the investigation.

He said he did not know what the European Commission was investigating, apart from the fact it entailed the generics drugs industry.

In addition to Sanofi, EU officials also raided the French offices of Sandoz, the generics drugs division of Novartis (NOVN.VX), as well as those of generic manufacturers Teva Pharmaceuticals (TEVA.TA), Ranbaxy (RANB.BO) and Ratiopharm.

A spokesman for the European Commission, the EU watchdog, said only that there was reason to believe certain companies may have infringed EU competition rules prohibiting restrictive business practices and abuse of a dominant market position.

Lawyers said it appeared the antitrust taskforce was zeroing in on cosy settlement deals struck between makers of generic and branded medicines in France.

European Competition Commissioner Neelie Kroes said in July she would not hesitate to go after drugmakers that cut deals to hold back the introduction of less expensive unpatented medicines.

The European Commission estimates delays in generics pushed up consumers' bills by 20 percent between 2000 and 2007. (Writing by Ben Hirschler, editing by Will Waterman)