Sanofi "Restructuring" Scheduled; Multaq Launch Not; Staff Worry About Layoffs

(MoneyWatch)  Tension is building at Sanofi-Aventis as the FDA's approval letter for its new heart drug Multaq remains conspicuous by its absence and the company has a "restructuring " announcement set for the week of June 29.

• UPDATE: Sanofi "Restructuring" Looks Increasingly Like Layoffs

Reuters reported back in May that Sanofi expected the FDA's approval letter in Q2 2009 following a panel recommendation. With only a few days of Q2 left, the letter remains "in the mail," so to speak. Potentially, $3 billion in revenues are on the line with Multaq.

Separately -- or not! -- Sanofi has scheduled a "major restructuring" announcement for the week of June 29. The news was leaked by CGT, the French union at Sanofi.

Some on CafePharma have interpreted "restructuring" as "more layoffs on the way." Also on that somewhat reliable bulletin board: confusion as to whether there are vacancies on the Multaq selling force or not, and reps already on the force are allegedly doing a whole lot of not very much while they wait for the FDA decision.

The events have an ominous feel. Sanofi already went through a round of layoffs last winter, but we know that CEO Chris Viehbacher (pictured) remains focused on operating productivity.

• See BNET's previous coverage of Sanofi:
• Sanofi Q4: No Nasty Surprises, But Viehbacher Is Focused on Sales Productivity Ratios
• Sanofi CEO Viehbacher Wants More Cuts; Drug Reps' Necks on the Block
• The Sanofi-Bristol-Myers Squibb Worst-Case Scenario
• Should Sanofi-Aventis Buy Bristol Myers-Squibb?
• Several Hundred Sanofi Reps Get the Ax
• Sanofi Names D-Day for Layoffs: Dec. 1
• Sanofi Reps' Morale Hits New Low as Layoff Rumors Circulate
• New CEO Veihbacher, Plucked From the U.S., Could De-Frenchify Sanofi
• Sanofi Gets the Tax Breaks It Wanted in Vaccine HQ Deal
• Why Can't Sanofi Get That Zentiva Deal Done?