logo
Share SHARE
FONT-SIZE Plus   Neg

Sanofi Q1 Profit Rises; Backs 2012 Business EPS View - Quick Facts

Sanofi (SNY,SNYNF.PK) posted first quarter net income attributable to shareholders of 1.83 billion euros or 1.38 euros per share, up from 1.22 billion euros or 0.93 euros per share a year ago.

Business earnings per share for the quarter were 1.85 euros, 11.4% higher than the year ago quarter. Business EPS was up 7.2% at constant exchange rates.

Net sales reached 8.511 billion euros, up 9.4% on a reported basis from the prior-year quarter. At constant exchange rates, and adjusting for changes in the scope of consolidation, primarily the consolidation of Genzyme, net sales decreased 0.6%.

Commenting on the Group's performance in Q1 2012, Sanofi Chief Executive Officer, Christopher Viehbacher said,

"During the first quarter, our Business EPS grew by 7.2%. This strong performance was driven by Genzyme, our growth platforms, and cost savings. This quarter also reflects the production recovery of Genzyme with the first shipment of Fabrazyme® produced in Framingham in March.

In addition, we have submitted three new products to regulatory authorities, and released impressive clinical results for our anti-PCSK9 agent and for Lemtrada at recent medical congresses. Although as expected, Plavix will lose exclusivity in May in the U.S., the strong underlying performance of the business is consistent with our medium term growth outlook".

Taking into account the loss of Plavix and Avapro exclusivity in the U.S., the performance of growth platforms, contribution from Genzyme and cost control as well as other generic competition, 2012 business EPS is still targeted to be 12% to 15% lower at constant exchange rates than 2011, barring unforeseen adverse events.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Automakers on Monday reported strong U.S. vehicle sales for the month of July, driven by continued demand for trucks and sport-utility vehicles amid an improving economy, lower gas prices and easy availability of credit. Detroit's Big Three - General Motors Co., Ford Motor Co. and FCA US, LLC - all reported vehicle sales above analyst expectations. British lender Lloyds Banking Group Plc. Friday reported higher profit in its first half, benefited by increased net interest income and margin as well as lower impairment. Looking ahead, the company lifted its net interest margin forecast. Amgen reported an increase in second-quarter profit, driven by sales of arthritis drug Enbrel and osteoporosis treatments Xgeva and Prolia, and improved margins. Both earnings and sales topped Wall Street estimates.
comments powered by Disqus
RELATED NEWS
Trade SNY now with 
Follow RTT