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By Donato Paolo Mancini
Sanofi SA (SAN.FR) said Friday that net profit and sales both increased in the first quarter, and backed its full-year guidance as the pharmaceutical giant reaps the benefits from its investment in specialty care.
Business net income, an important adjusted net profit metric for the French pharma company, was 1.77 billion euros ($1.97 billion), or EUR1.42 a share, up 9% at constant exchange rates. IFRS net profit was EUR1.14 billion, or EUR0.91 a share.
Sales were EUR8.39 billion, buoyed by specialty care and vaccines. Analysts had expected sales of EUR8.45 billion. Sales in the diabetes franchise declined 6.9%.
Sanofi backed its outlook for the 2019 business EPS, expecting it to grow between 3% and 5%.
The company's chief financial officer, Jean-Baptiste de Chatillon, said Sanofi wasn't expecting any major impact from ramped-up rhetoric as concerns healthcare reform in the U.S., after the Democrats floated a Medicare for All plan that could upend the industry.
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(END) Dow Jones Newswires
April 26, 2019 01:50 ET (05:50 GMT)
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