Sanofi 4Q Net Profit Fell Significantly
February 07 2018 - 2:13AM
Dow Jones News
By Sonia Amaral Rohter
Sanofi SA (SAN.FR) said on Wednesday that fourth-quarter net
profit decreased significantly due in part to a drop in sales and a
tax-related charge.
The French drugmaker reported net profit of 129 million euros
($159.7 million) for the quarter, compared with EUR790 million in
the same period a year earlier.
Business net income--the company's measure for adjusted income
excluding the impact of acquisitions and divestments--was EUR1.33
billion, down from EUR1.61 billion. Sales for the quarter fell 2%
to EUR8.69 billion.
A Vara Research consensus forecast had seen fourth-quarter
business net income at about EUR1.43 billion and sales of about
EUR8.7 billion
Sanofi recorded a charge of EUR631 million in the quarter that
it said primarily reflected the consequences of the recent U.S. tax
reform.
Global sales of Lantus--Sanofi's flagship diabetes
product--dropped 21% at a constant exchange rate, while sales in
the U.S. decreased 31.4%.
The company said that, including the anticipated contribution
from recently announced acquisitions, it expects 2018 business
earnings per share to increase between 2% and 5% at constant
exchange rates. Sanofi estimates the currency impact on its 2018
business EPS to be between negative 3% and negative 4%.
Sanofi's board proposed a 2017 dividend of EUR3.03, a 2.4%
increase over 2016.
Write to Sonia Amaral Rohter at
sonia.amaralrohter@dowjones.com
(END) Dow Jones Newswires
February 07, 2018 01:58 ET (06:58 GMT)
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