Sanofi-Aventis CEO rules out more big acquisitions, in FT interview

Sanofi-Aventis chief executive Chris Viehbacher, in an interview with the UK's Financial Times, again rejects the idea of large acquisitions. He also reiterates his policy of R&D externalization, acknowledging that the company historically had 'not a lot of external partnerships, virtually no contact with our commercial organizations.'

In a veiled criticism of Gerard Le Fur, his predecessor and former head of R&D who was appointed chief executive of the French drug major and ousted within months, he said: 'We had really a scientific organization that really lived within its own walls; not a lot of external partnerships, virtually no contact with our commercial organizations.'

Mr Viehbacher added: 'The best scientists are often lousy leaders [and] managers. You had a research and development god who hoped a blockbuster emerged. When it didn't, you merged. The model was flawed.'
He told the FT: 'I think the mistake we made in our industry was, we made R&D organizations that were very big, very complex, very difficult to manage, and we killed the innovative spirit. So, I think our objective is really to say, 'let's build upon what we've got; let's create growth and shareholder value, and let's really make sure we find some new innovation'. So, big acquisitions are not on our radar screen.'

He also told the FT that he wanted the success of his purchases to be judged by whether top executives remained after their companies had been acquired.