Sanofi Partners With Google On Data Technologies

Sanofi Partners With Google On Data Technologies
June 19, 2019

 

French pharmaceutical firm Sanofi (Nasdaq: SNY) revealed that it has entered into a partnership with Google to utilize artificial intelligence and other tools for in-depth analysis of data to improve therapies. Following the news, Sanofi stock closed at $43.11, up 1.08% or $0.46 from the prior close.

The utilization of Google’s tools for in-depth analysis and compiling a huge volume of information to arrive at path-breaking revelations will enable Sanofi to improve its knowledge about major diseases and arrive at conclusions to implement additional alterations. Sanofi also intends to shift a portion of its business processes to the cloud computing platform of Google and utilize artificial intelligence to enhance overall operations.

Sanofi opined that the online search giant “will apply technology and analytics on Sanofi’s large real-world database to better understand what treatments work for patients.”

Regarding the partnership, Ameet Nathwani, chief digital officer, chief medical officer and executive vice president of Sanofi, said: “Combining Sanofi’s biologic innovations and scientific data with Google’s industry-leading capabilities, from cloud computing to state-of-the-art artificial intelligence, we aspire to give people more control over their health and accelerate the discovery of new therapies.”

Sanofi, which manufactures insulin, vaccines, cardiovascular medicines, and cancer drugs, generated revenue of €34.5 billion ($38.80 billion) in 2018. The Paris-France based pharmaceutical firm did not divulge the financial terms behind the deal with Google. However, trade unions are worried that Sanofi may resort to trimming down investments related to research and development. Notably, this is not the first partnership deal between Sanofi and Alphabet, the parent company of Google.

In May, Verily, the health division of Alphabet, inked partnership deals with four top pharmaceutical companies, including Sanofi, to expedite clinical testing utilizing digital technologies. Verily, the health and life sciences firm, is also entering into the clinical trials arena.

In this regard, Verily has entered into a strategic partnership with pharmaceutical firms Sanofi, Novartis, Pfizer, and Otsuka to quickly pierce through the medical studies market. The objective of Verily and its pharma associates are to reach patients through unique ways, make it simple to register and take part in tests, and aggregate information across a multitude of sources, including the digital medical document or health monitoring gadgets that are wearable.

Recently, Verily has raised $1 billion, with private equity firm Silver Lake leading the funding round which allows the firm a certain level of independence from Alphabet. Verily views clinical trials as the prime area of focus as it already has considerable experience with medical research. The clinical trial market is forecast to be worth nearly $69 billion by 2026, as per a study conducted by Grand View Research. Notably, to develop connected interactive devices to treat diabetes in a better manner, both Sanofi and Verily established a joint venture firm named Onduo in 2016.

The partnership is anticipated to keep the stock bullish in the week ahead.

sny - technical analysis - 19th June 2019

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Ian Maguire

Ian Maguire

Ian is our resident contributor to the latest going ons in the cryptomarket, keeping up to date with the latest icos and coins


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