By Mauro Orru 
 

Sanofi SA said Friday that net profit and sales for the first quarter of 2020 increased thanks to the strong performance of Dupixent, a monoclonal antibody used to treat diseases such as eczema and nasal polyps.

The French pharmaceutical major said first-quarter net profit rose to 1.68 billion euros ($1.82 billion) from EUR1.14 billion for the first quarter of 2019.

Business net income--a closely watched profit metric excluding some items--rose to EUR2.04 billion from EUR1.76 billion for the same period, with business earnings per share rising 15.6% at constant exchange rates to EUR1.63.

Sales jumped to EUR8.97 billion from EUR8.39 billion, Sanofi said.

The company said it still continues to expect 5% business EPS growth at constant exchange rates for the full year.

However, it anticipates the favorable coronavirus impact on sales and business EPS for the first quarter to be mainly offset during the second quarter.

"While the duration of the pandemic remains unknown at this point, I am confident Sanofi is well positioned to navigate these challenges and deliver on our commitment to patients," Chief Executive Paul Hudson said.

 

Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94

 

(END) Dow Jones Newswires

April 24, 2020 02:12 ET (06:12 GMT)

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