Sanofi 3Q Profit Grew; Raises 2020 Business EPS Guidance -- Update
29 Octobre 2020 - 11:29AM
Dow Jones News
--Sanofi net profit for the third quarter increased on year
--The company raised its business EPS guidance on strong sales
of Dupixent and vaccines
--Sales in the General Medicines portfolio decreased, but this
was largely offset by the growth in Specialty Care, driven by
Dupixent
By Cecilia Butini
Sanofi SA said Thursday that net profit grew on year in the
third quarter and raised its business EPS guidance for the
year.
The French pharmaceutical major posted net profit of 1.95
billion euros ($2.29 billion) in 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.
Sales of Dupixent--which is part of Sanofi's Specialty Care
portfolio and produced in collaboration with Regeneron--reached
EUR918 million in the quarter, a 68.6% on-year increase at constant
exchange rates.
The increase offset a 6.4% sales decline in the company's
General Medicines portfolio due to the volume-based procurement
program in China--which aims at lowering the price of certain
drugs--as well as weaker performance in the diabetes segment.
Vaccine sales were up 13.6% at constant exchange rates
reflecting the strong performance of influenza vaccines across all
geographies, the company said. That was partly offset by lower
sales of meningococcal vaccination Menactra, adult booster vaccines
and travel vaccines due to the coronavirus pandemic.
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 06:14 ET (10:14 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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