Sanofi Profit Lifted by Biotech, Emerging Markets
April 29 2016 - 1:59AM
Dow Jones News
By Noemie Bisserbe
PARIS--French drugmaker Sanofi SA on Friday reported a rise in
first-quarter net profit, lifted by its biotech unit and emerging
markets.
The Paris-based drugmaker said net profit increased by 6% to
EUR1.09 billion ($1.24 billion) for the three months through March
from EUR1.02 billion a year earlier.
Business net income, the company's term for adjusted income
excluding the impact of acquisitions and divestments, declined 0.2%
to EUR1.72 billion, above analysts' expectations of EUR1.69
billion. Sanofi's total sales fell 3% to EUR7.78 billion.
Sanofi's earnings this quarter reflect continuing pricing
pressure in the U.S. on its top selling medicine Lantus.
Diabetes drug sales, which account for about 20% of the
company's revenue, fell 6% to EUR1.73 billion in the first-quarter,
hurt by lower sales of its insulin drug Lantus. However, Genzyme,
Sanofi's biotech unit, posted a 16% jump in revenue to EUR1.37
billion, boosted by sales of multiple sclerosis treatment Aubagio.
Sales of consumer health care products fell 8% to EUR905 million,
while vaccines sales increased 5% to EUR625 million.
Sanofi has said it expected its business earnings per share to
remain "broadly stable" in 2016 at constant exchange rates,
"barring unforeseen major adverse events."
Write to Noemie Bisserbe at noemie.bisserbe@wsj.com
(END) Dow Jones Newswires
April 29, 2016 01:44 ET (05:44 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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