Sanofi Partners Google To Build Healthcare Innovation Lab
Zacks Investment Research | Jun 17, 2019 10:30PM ET
Sanofi (PA:SASY) (NASDAQ:SNY) has entered into a collaboration contract with Google, a subsidiary of Alphabet (NASDAQ:GOOGL) Inc. (NASDAQ:GOOG) , to establish a new virtual healthcare innovation laboratory for transforming future medicines and healthcare services with the aid of latest data technologies. Financial terms of the deal have been kept under wraps.
With this partnership, Sanofi is looking to gain a better understanding of patients and their diseases as well as improve its patients and customer experience. The company is also eyeing an increase in operational efficiency while developing new therapies through emerging data technologies.
The deal brings together Google’s cloud computing services and state-of-the-art artificial intelligence (AI) with Sanofi’s biologic innovations and scientific data to accelerate the discovery of new therapies for patients across the world.
Both companies are focused on combining technology and analytics with healthcare database to better understand what treatments work for a particular group of patients. The whole idea is to provide a personalized treatment advice by optimizing patient care and thereby reducing healthcare costs.
Google has several collaborations with medtech and pharmaceutical companies to its credit, mainly via its two life sciences companies — Calico and Verily.
Shares of Sanofi have lost 1.8% so far this year versus the Zacks Investment Research
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.