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Sanofi Turns To Profit In Q2 - Quick Facts

Sanofi (SNYNF,SNY) reported that its second-quarter net income attributable to equity holders of the company was 7.60 billion euros or 6.07 euros per share, compared to net loss of 87 million euros or 0.07 euros per share in the prior year. The latest-quarter results reflected capital gain from sales of Regeneron shares.

Second-quarter business net income increased 3.6% to 1.60 billion euros and increased 5.6% at CER. Business earnings per share increased 3.2% to 1.28 euros on a reported basis and 4.8% at CER. Excluding the gain on the revaluation of the retained Regeneron shares, business earnings per share was 1.18 euros, down 2.4% at CER.

Net sales for the second quarter were 8.207 billion euros, down 4.9% on a reported basis. The latest-quarter sales results reflected the strong performance of Dupixent more than offset by COVID-19 related negative effects on Vaccines, General Medicines and CHC.

Exchange rate movements had a negative effect of 1.5 percentage points, mainly driven by the decrease of the Brazilian real, Argentine peso and Mexican peso which offset the strength of the U.S. dollar and the Japanese yen. At CER, Company sales decreased 3.4%.

Sanofi now expects 2020 business earnings per share to grow between 6% and 7% at CER, barring unforeseen major adverse events. The currency impact on 2020 business earnings per share is estimated to be between negative 3% to negative 4%.

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