Sanofi Returned to Growth in 3Q
October 31 2018 - 03:03AM
Dow Jones News
By Donato Paolo Mancini
French pharmaceuticals heavyweight Sanofi SA (SAN.FR) reported a
rise in key third-quarter metrics Wednesday, with its bet on
higher-value drugs seeming to offset declining revenue from its
diabetes division, long afflicted by the loss of exclusivity for
former blockbusters.
Net sales at the company increased to 9.39 billion euros ($10.67
billion) from EUR9.06 billion the year prior, buoyed by sales of
vaccines and by the specialty-care division Sanofi Genzyme, which
grew 36% on year.
Business net income--an important, adjusted metric for the
company that excludes amortization, impairments, restructuring
costs and other values--increased to EUR2.30 billion from EUR2.14
billion the year before, Sanofi said.
Sales in the diabetes and cardiovascular franchise decreased
6.3% at constant currencies, it said.
Like a host of its peers in the industry, Sanofi has moved to
focus on higher-value drugs by making deals. This year, it bought
Ablynx, which develops drugs made from unusually small antibodies,
and Bioverativ, a U.S. hemophilia specialist.
"In the third quarter, Sanofi entered a new growth phase. We
delivered strong results with double-digit growth in specialty care
and emerging markets, while vaccines contributed a high-single
digit increase in sales," said Sanofi Chief Executive Olivier
Brandicourt. "Based on the underlying dynamics demonstrated in the
quarter, Sanofi is now well positioned to deliver growth," Mr.
Brandicourt said.
Write to Donato Paolo Mancini at
donatopaolo.mancini@dowjones.com; @donatopmancini
(END) Dow Jones Newswires
October 31, 2018 02:48 ET (06:48 GMT)
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