Drugmakers rebranding around oncology, rare diseases could provide 2020 preview
Drugmakers are constantly reviewing their businesses to figure out what's working and what isn't. Over the past several years, those reviews have led to asset swaps and slim-downs, with companies trading, selling or spinning businesses that weren't getting the job done. Lately, though? They've resulted in full-scale rebrands for some pharmas—more often than not, yielding a new focus on oncology, rare diseases or both—and more could join the fold in 2020.
French drugmaker Sanofi earlier this month moved to do exactly that when it trumpeted a slice-and-dice strategy that would gut its cardiovascular and diabetes R&D—two longtime hallmarks of its business, thanks to blockbusters such as Plavix and Lantus. It also unveiled plans to strip away costs throughout its global business, with the intent to cut €2 billion by 2022, and to funnel those savings into oncology and rare diseases.
But a pivot into those two fields isn't a novel concept, with a wave of companies making similar pushes in the past year or so.