Sanofi 1Q Net Profit, Sales Increased
April 24 2020 - 2:27AM
Dow Jones News
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)
Copyright (c) 2020 Dow Jones & Company, Inc.
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