Sanofi 3Q Net Profit Down on Weakness of Diabetes Franchise
November 02 2017 - 2:59AM
Dow Jones News
By Sonia Amaral Rohter
Sanofi SA (SAN.FR) on Thursday said that its third-quarter net
profit fell 6.4% despite a slight uptick in sales as strong
showings in vaccines, specialty care and emerging markets failed to
fully offset continued weakness in its diabetes and cardiovascular
business.
The French drugmaker reported third-quarter net profit of 1.57
billion euros ($1.83 billion) compared with EUR1.67 billion 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 EUR2.14
billion for the quarter compared with EUR2.3 billion a year
earlier. Sales for the quarter increased 0.3% to EUR9.05 billion. A
Vara Research forecast had seen business net income at about
EUR2.16 billion and sales of about EUR9.26 billion.
Third-quarter sales of Lantus, Sanofi's flagship diabetes
product, were down 15.5% at a constant exchange rate, while overall
sales for the diabetes franchise were down 10%.
Sanofi says that it expects sales in its global diabetes
franchise to decline at an average annualized rate of between 6%
and 8% at a constant exchange rate between 2015 and 2018.
The company confirmed its 2017 outlook and said it continues to
expect business earnings per share for 2017 to be "broadly stable"
at a constant exchange rate.
Write to Sonia Amaral Rohter at
sonia.amaralrohter@dowjones.com
(END) Dow Jones Newswires
November 02, 2017 02:44 ET (06:44 GMT)
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