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French drugmaker shortens name to Sanofi

Fri, 05/06/2011 - 1:17pm
The Associated Press

French drugmaker Sanofi-Aventis SA on Friday shortened its name to Sanofi.

The company said its shareholders approved the change at its annual meeting in Paris. Sanofi is one of the world's biggest drugmakers by revenue. It was formed in 2004 in a merger between two French companies, Sanofi-Synthelabo and Aventis. Last month, the company acquired U.S. specialty drugmaker Genzyme Corp. in a $20.1 billion deal.

The company also declared a dividend of 2.50 Euros. The dividend will be paid in cash or stock. Payment is expected by June 16.

Sanofi also said its shareholders elected Carole Piwnica to the board of directors, replacing Patrick de la Chevardière. Piwnica will serve out the rest of de la Chevardière's term, which will expire in 2012. The company also approved the appointment of Suet-Fern Lee for a term ending in 2014. Directors Thierry Desmarest, Igor Landau, Gérard Van Kemmel and Serge Weinberg were elected to new four-year terms. Weinberg was named to a new term as chairman of the board.

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