September 14, 2018 / 10:15 AM / a year ago

Sanofi pledges to keep up restructuring efforts

PARIS, Sept 14 (Reuters) - Sanofi said it would continue to implement cost savings after having reached a 1.5 billion euros ($1.75 billion) cost reduction target a year ahead of expectations.

“It’s only the beginning, and we will continue to be very efficient in the space of cost savings and cost management,” Chief Executive Olivier Brandicourt told investors at a Bank of America Merrill Lynch conference in London.

The CEO did not elaborate further but referred to a reorganisation of Sanofi’s global business units unveiled earlier this week. ($1 = 0.8549 euros) (Reporting by Matthias Blamont; Editing by Sudip Kar-Gupta)

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