Sanofi to reduce investment in Onduo, USD 500 million joint venture with Verily

However, after several years of partnership, the two parties do not seem to align well as Sanofi recently withdrew from the Joint Venture, Onduo stating that it would exit research on cardiovascular disease and diabetes.

New Delhi: Past four years of partnership between the French drugmaker Sanofi and Google owner Alphabet’s life sciences firm Verily in a USD 500 million joint venture -Onduo, to develop connected devices to improve diabetes care; Sanofi recently pulled back from participating in Onduo as a part of it's rejig.

The announcement to this effect was made during the capital market's meet held on December 10 2019, where the French drugmaker drafted a plan to withdraw diabetes and cardiovascular disease research and back out from Onduo.

Medical Dialogues had earlier reported that Sanofi and Verily had stated that Onduo "will initially focus on the type 2 diabetes community, specifically on developing solutions that could help people make better decisions about their day-to-day health, ranging from improved medication management to improved habits and goals.”

Sanofi and Verily had claimed to leverage Verily’s experience in miniaturised electronics, analytics, and consumer software development, with Sanofi’s clinical expertise and experience in bringing innovative treatments to people living with diabetes.

Further, a spokeswoman for Sanofi had added that the products on sale would include connected objects such as insulin pens and online services. The firm had invested USD 248 million in the joint venture, in which the French group controlled a 50 per cent stake.

Also Read: Sanofi, Google parent in 500 million dollar diabetes joint venture

However, after several years of partnership, the two parties do not seem to align well as Sanofi recently withdrew from the Joint Venture, Onduo stating that it would exit research on cardiovascular disease and diabetes.

"Sanofi company had “over-invested” in Onduo and will no longer be involved in running the venture, though it will remain an investor in it," said Sanofi CEO Paul Hudson as quoted by STAT.