By Noemie Bisserbe
PARIS-- Sanofi SA on Thursday reported a 68% jump in
second-quarter net profit, lifted by its biotech business and lower
costs, providing new Chief Executive Olivier Brandicourt with
momentum in his first few months on the job.
The Paris-based pharmaceutical company said net profit rose to
EUR1.3 billion ($1.43 billion) for the three months through June
from EUR777 million a year earlier.
Business net income, the company's term for adjusted income
excluding the impact of acquisitions and divestments, increased 20%
to EUR1.84 billion, beating analysts' expectations of EUR1.70
billion. Sanofi's total sales rose 16% to EUR9.38 billion.
Genzyme, the company's biotech unit, posted a 27% rise in
revenue to EUR907 million, boosted by strong sales of Aubagio, a
multiple sclerosis drug. Vaccine and animal drugs sales also rose
9% and 14%, respectively in the second quarter.
However, diabetes drug sales, which account for more than 20% of
the company's revenue, fell 4% to EUR1.99 billion, hurt by lower
sales of its insulin Lantus, which lost patent protection in the
U.S. in May.
Sanofi said it still expected business earnings-per-share to
remain stable or grow slightly in 2015, compared with 2014, at
constant exchange rates.
Write to Noemie Bisserbe at noemie.bisserbe@wsj.com
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