Sanofi(US:SNY) 智通财经网·2026-02-12 10:40Core Viewpoint - Sanofi has announced the sudden departure of CEO Paul Hudson, with Merck executive Belen Garijo taking over, as the company struggles with disappointing R&D results and investor dissatisfaction [1][2]. Group 1: Leadership Change - Paul Hudson has been at the helm of Sanofi for over six years, attempting to find a successor for the key drug Dupixent, which is facing a patent cliff [1]. - Belen Garijo, who has extensive experience with Sanofi, is expected to implement stricter execution of the company's strategy and improve R&D output and governance [1][2]. Group 2: R&D Challenges - Sanofi's aggressive new drug acceleration plan introduced by Hudson in 2023 has yet to yield substantial results, with key trials failing and regulatory setbacks [2]. - The company has faced mixed results in clinical trials for drugs intended to succeed Dupixent, leading to increased investor frustration [2]. Group 3: Company Strategy and Performance - Sanofi's divestment of its consumer health business means it will rely entirely on innovative prescription drugs moving forward [2]. - Analysts have noted that while Hudson restructured the company and set a growth path through 2030, the inability to improve R&D efficiency and find a successor for Dupixent has led to underperformance in valuation multiples compared to peers [2].