Saonfi (SNY) to End Work at Toulouse Site

July 12, 2012 6:51 AM EDT
Saonfi (NYSE: SNY) shares are flat in pre-market action Thursday following affirmation from an employee that the French pharma giant is planning to halt research in Toulouse.

According to Bloomberg, Sanofi researcher Marc Bianciotto issued comments in an interview earlier. He said Sanofi's head of research Elias Zerhouni met with employees at the location today to tell them the news.

On July 5th, Sanofi said all options remain for the site. Sanofi announced 2,000 job cuts the same day.

Toulouse was the location were the ground-breaking blood thinner Plavix was developed.

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