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Sanofi Q4 Profit Plunges, Lifts Dividend; Sees Growth In FY18 Business EPS

French drug giant Sanofi SA (SNYNF,SNY) reported Wednesday that its fourth-quarter IFRS net income declined 83.7 percent to 129 million euros from 790 million euros last year. Earnings per share were 0.10 euro, down from 0.62 euro a year ago.

Business net income was 1.33 billion euros or 1.06 euros per share, compared to 1.61 billion euros or 1.25 euros per share a year ago.

IFRS net sales declined 2 percent to 8.691 billion euros from 8.867 billion euros last year, reflecting strong Dupixent launch offset by anticipated declines in U.S. diabetes and Renagel.

Net sales grew 4.1% at constant exchange rates.

Further, the company's board proposed dividend of 3.03 euros, an increase of 2.4%.

Looking ahead, Sanofi expects fiscal 2018 business earnings per share to grow between 2% and 5% at constant exchange rates, including the anticipated contribution from the recently announced acquisitions

Sanofi Chief Executive Officer, Olivier Brandicourt, said, "In 2017, we continued to execute on our strategic goals with the strong launch of Dupixent®, the positive pivotal data for cemiplimab and for dupilumab in asthma. At the same time, we managed the challenges in U.S. diabetes as well as the impact from sevelamer generics and Dengvaxia...... Overall, after a period of significant reshaping since 2015, we are positioned to drive growth in 2018."

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