CAC-40 (includes Sanofi) has been dropping for the past week (all European exchanges, including DAX and FTSE) due to expected fear of Brexit vote in UK next week. Impact on pharma and all European businesses will be negative and I would expect a continued market correction plus a hit to the euro vs dollar unless the UK votes is to remain in the European Union.Probably another leg down to new lows for Sanofi--US ADR shares track the parent shares on the French stock exchange--just look up price quoted there, multiply by euro to dollar exchange rate and divide by 2--this will track the US Sanofi listed share price.
Biggest challenge has been the company has never had sufficient cash needed during the planning and execution of the plant in Sarnia. Consequently, the original shareholders have suffered major losses due to secondary issues, diluting the value of their shares over the past 2 years. Mangament keeps moving their targets, full ramp-up plan is a steep curve this year. What are their options for new cash--probably can't go for another secondary stock offering. That would probably cause the stock to trade at half its current value. I don't think the Ontario government will put more money in. Perhaps their Japanese trading company partner might arrange more financing for 50+% share and effectively take over the business.