PARIS, July 29, 2016 /PRNewswire/ -- Sanofi (NYSE:
SNY; EURONEXT: SAN)
Experience the interactive Multimedia News Release here:
http://www.multivu.com/players/English/7788752-sanofi-earnings-results-q2-2016/
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Q2
2016
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Change
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Change
(CER)
|
Aggregate Company
sales(1)
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€8,868m
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-4.3%
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-0.2%
|
Business net
income(2)
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€1,680m
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-8.7%
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-3.3%
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Business
EPS(3)
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€1.31
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-7.1%
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-2.1%
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(1) Including
Merial (see Appendix 10 for definition of Aggregate Company sales)
which is reported on a single line in the consolidated income
statements in accordance with IFRS 5 (Non-current assets held for
sale and discontinued operations). Additionally, Sanofi comments
include Merial for every income statement line using the term
"Aggregate"; (2) In order to facilitate an understanding of
operational performance, Sanofi comments on the business net income
statement. Business net income is a non-GAAP financial measure (see
Appendix 10 for definitions). The consolidated income
statement for Q2 2016 and H1 2016 is provided in Appendix 4 and a
reconciliation of business net income to IFRS net income reported
is set forth in Appendix 3; (3) (EPS) Earnings Per
Share.
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Sanofi Chief Executive Officer, Olivier Brandicourt, commented:
"Our
second quarter financial performance was in-line with expectations
despite anticipated headwinds. Sanofi Genzyme grew 20% and,
although Dengvaxia® uptake has been delayed, Sanofi
Pasteur performed well. Recent highlights included the signing of
the CHC asset swap, the approval of Praluent® in several
countries and positive Phase III CHRONOS data for dupilumab.
Following our first half performance, we confirm our broadly stable
2016 Business EPS guidance at CER."
Second quarter financial results and 2016 guidance
confirmed
- Aggregate Company sales decreased 0.2% (down 4.3% at 2016
exchange rates) to €8,868 million. Excluding Venezuela, Aggregate Company sales grew
1.9%
- Business EPS was down 2.1% at CER to €1.31 and down 7.1% on a
reported basis
- Sanofi continues to expect 2016 Business EPS to be broadly
stable at CER, barring unforeseen major adverse events
Performance of Global Business Units (GBU) led by Sanofi
Genzyme
- Strong double-digit growth of Sanofi Genzyme (+20.1%) across
multiple sclerosis and rare disease franchises
- Sanofi Pasteur sales increased +6.3%, despite anticipated
supply constraints of Pentacel® in the U.S.
- General Medicines & Emerging Markets sales declined 5.6%,
or down 1.9% excluding Venezuela.
- Diabetes and Cardiovascular sales were down 3.5%. Global
diabetes franchise sales declined 3.2%
- Animal Health sales were up 9.1% to €725 million, driven by the
success of the NexGard® family of products
- Aggregate sales in Emerging Markets grew 6.7% excluding
Venezuela
Major launches update
- Toujeo® generated worldwide sales of €141
million
- Praluent® launch advancing globally with approval in
Japan and market share improvement
in the U.S.
- Dengvaxia® uptake delayed by recent political
changes and economic volatility in Latin
America
Key R&D milestones achieved
- Positive CHRONOS data for dupilumab in atopic
dermatitis
- Adlyxin™ (lixisenatide) approved in the U.S.
- FDA Advisory Committee recommended approval of LixiLan
R&D update
Regulatory update
Regulatory updates since the publication of the first quarter
results on April 29, 2016 include the
following:
- In July, the Ministry of Health, Labor and Welfare in
Japan granted marketing
authorization for Praluent® (alirocumab) for the
treatment of uncontrolled low-density lipoprotein cholesterol in
certain adult patients with hypercholesterolemia at high
cardiovascular risk. The 300mg once-monthly dosing of
Praluent® was also filed in U.S. and EU.
- In July, the file for the Marketing Authorization Application
for sarilumab in Rheumatoid Arthritis was accepted for
review by the European Medicines Agency (EMA).
- In May, the Endocrinologic and Metabolic Drugs Advisory
Committee (EMDAC) of the FDA recommended the approval(4)
of the New Drug Application (NDA) for Adlyxin®
(lixisenatide) and for the fixed-ratio combination of basal
insulin glargine 100 Units/mL and GLP-1 receptor agonist
lixisenatide for the treatment of adults with type 2 diabetes.
The fixed-ratio combination of basal insulin glargine and GLP-1
receptor agonist lixisenatide is undergoing FDA review, with
decisions anticipated in August 2016.
Adlyxin® (lixisenatide) was approved in the U.S. at the
end of July.
(4) The members of the Advisory Committee voted 12-2 for an
approval of LixiLan
At the end of July 2016, the
R&D pipeline contained 44 pharmaceutical new molecular entities
(excluding Life Cycle Management) and vaccine candidates in
clinical development of which 14 are in Phase III or have been
submitted to the regulatory authorities for approval.
Portfolio update
Phase III:
- In June, the results of the pivotal Phase III LixiLan-O and
LixiLan-L clinical trials with the investigational titratable
fixed-ratio combination of basal insulin glargine 100 Units/mL
and lixisenatide in adults with type 2 diabetes were presented
at the American Diabetes Association Scientific Sessions. Both
studies met their primary endpoints, demonstrating statistically
superior reduction of HbA1c with the titratable fixed-ratio
combination versus comparators (lixisenatide and insulin glargine
100 Units/mL, respectively).
- In June, Sanofi and Regeneron announced that a one-year Phase
III study, known as LIBERTY AD CHRONOS, evaluating investigational
dupilumab met its primary and key secondary endpoints. In
the study, dupilumab with topical corticosteroids (TCS) was
compared to TCS alone in moderate-to-severe atopic dermatitis adult
patients. Patients enrolled in the study were inadequately
controlled by TCS with or without topical calcineurin inhibitor.
Dupilumab with TCS significantly improved measures of overall
disease severity at 16 and 52 weeks, when compared to placebo with
TCS.
- Based on the results of the FIRSTANA Phase III study comparing
Jevtana® (cabazitaxel) versus
Taxotere® (docetaxel) in chemotherapy-naïve metastatic
castration resistant prostate cancer, the decision was made not to
submit a first line indication for Jevtana® as the
results did not provide the level of benefit that is needed for
claiming new indication. Jevtana® currently has a second
line indication and FIRSTANA was conducted as part of the post
marketing commitment with the FDA.
Phase II:
- SAR439684, a PD-1
inhibitor (alliance with Regeneron), entered Phase II in advanced
cutaneous squamous cell carcinoma.
Phase I:
- It has been decided not to pursue the development of
SAR438544, a stable glucagon
analog, in diabetes.
To access the full press release of the 2016 Q2 results,
please click here.
2016 guidance
Sanofi continues to expect 2016 Business EPS to be broadly
stable at CER, barring unforeseen major adverse events. In
addition, the currency impact on 2016 full-year business EPS is
estimated to be around -4%, applying June
2016 average rates to the two remaining quarters of
2016.
Forward-Looking Statements
This press release contains forward-looking statements as
defined in the Private Securities Litigation Reform Act of 1995, as
amended. Forward-looking statements are statements that are not
historical facts. These statements include projections and
estimates and their underlying assumptions, statements regarding
plans, objectives, intentions and expectations with respect to
future financial results, events, operations, services, product
development and potential, and statements regarding future
performance. Forward-looking statements are generally identified by
the words "expects", "anticipates", "believes", "intends",
"estimates", "plans" and similar expressions. Although Sanofi's
management believes that the expectations reflected in such
forward-looking statements are reasonable, investors are cautioned
that forward-looking information and statements are subject to
various risks and uncertainties, many of which are difficult to
predict and generally beyond the control of Sanofi, that could
cause actual results and developments to differ materially from
those expressed in, or implied or projected by, the forward-looking
information and statements. These risks and uncertainties include
among other things, the uncertainties inherent in research and
development, future clinical data and analysis, including post
marketing, decisions by regulatory authorities, such as the FDA or
the EMA, regarding whether and when to approve any drug, device or
biological application that may be filed for any such product
candidates as well as their decisions regarding labelling and other
matters that could affect the availability or commercial potential
of such product candidates, the absence of guarantee that the
product candidates if approved will be commercially successful, the
future approval and commercial success of therapeutic alternatives,
Sanofi's ability to benefit from external growth opportunities
and/or obtain regulatory clearances, risks associated with
intellectual property and any related pending or future litigation
and the ultimate outcome of such litigation, trends in
exchange rates and prevailing interest rates, volatile economic
conditions, the impact of cost containment initiatives and
subsequent changes thereto, the average number of shares
outstanding as well as those discussed or identified in the public
filings with the SEC and the AMF made by Sanofi, including those
listed under "Risk Factors" and "Cautionary Statement Regarding
Forward-Looking Statements" in Sanofi's annual report on Form 20-F
for the year ended December 31, 2015.
Other than as required by applicable law, Sanofi does not undertake
any obligation to update or revise any forward-looking information
or statements.
Media
Relations:
|
Investor
Relations
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Anna
Robinson
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George
Grofik
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908-989-0726
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908-981-5560
|
Email:
USMediaRelations@sanofi.com
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Email:
IR@sanofi.com
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SOURCE Sanofi