U.S. Markets open in 3 hrs 13 mins

Sanofi, Google Partner On Health Care-Focused Virtual Innovation Lab

Tanzeel Akhtar

Sanofi SA (NASDAQ: SNY) and Alphabet Inc (NASDAQ: GOOG) (NASDAQ: GOOGL) said Tuesday they have joined forces to launch a virtual Innovation lab with the aim of transforming how medicine and health services are delivered using emerging data technologies. 

The Innovation Lab will develop both scientific and commercial projects, according to the drugmaker and tech giant

Sanofi and Google plan to apply artificial intelligence across datasets to forecast sales. The use of AI will take into account real-time information as well as geographic, logistic and manufacturing constraints to help make complex activities more accurate. 

"Life sciences companies are looking to data driven, digital innovation to help fuel the creation of accessible healthcare solutions," Google Cloud CEO Thomas Kurian said in a statement. 

"We look forward to collaborating with Sanofi to help accelerate the cycle of healthcare innovation to populations throughout the world." 

Sanofi shares were up 1.45% at $43.27 at the time of publication Tuesday, while Alphabet shares were 1.78% higher at $1,113.35. 

Related Links:

BofA Upgrades Sanofi, Names 3 Growth Drivers For Pharma Stock

Google Buys Intelligence Company Looker For .6B In Cash

Photo by Dustin Blitchok. 

See more from Benzinga

© 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.