Sanofi 3Q Profit Grew; Raises 2020 Business EPS Guidance
October 29 2020 - 03:27AM
Dow Jones News
By Cecilia Butini
Sanofi SA said Thursday that net profit grew on year in the
third quarter and that it has raised its business earnings per
share guidance for the year.
The French pharmaceutical major posted net profit of 1.95
billion euros ($2.29 billion) for the period, up from EUR1.77
billion the year prior.
Sales fell slightly to EUR9.48 billion compared with EUR9.50
billion the year prior, but were driven by strong performance of
monoclonal antibody Dupixent and demand for flu vaccines, the
company said.
Business net income--a metric which Sanofi uses to indicate
income without certain one-off items--came in at EUR2.30 billion,
up from EUR2.28 billion in the third quarter of 2019.
The company raised its business EPS guidance. It now expects
2020 business EPS to grow between 7% and 8% at constant exchange
rates, having previously guided for EPS growth between 6% and 7% at
constant exchange rates.
Write to Cecilia Butini at cecilia.butini@wsj.com
(END) Dow Jones Newswires
October 29, 2020 03:12 ET (07:12 GMT)
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