Sanofi’s Q3 profit drops 23% – less than analysts predicted
Sanofi reported a 23 percent decline in profits for Q3. It also expects that full-year profit will fall from last year, however, full-year earnings are likely to decline less than predicted earlier this year.
Business net income fell 7.4 percent in Q3 to 2.22 billion euros ($2.88 billion), a fall which is less than estimated by analysts.
“The long-expected impact of generic competition is having its way but we are really seeing a light at the end of the tunnel… as our growth platforms continue to build steam, we believe this will put Sanofi back on a growth trajectory.”
Chris Viehbacher, Chief Executive Officer.
Sanofi expects growth next year to come from emerging markets, diabetes, vaccines, animal health, biotech drugs and new products, such as Zaltrap and Aubagio.
“Sanofi should be capable of returning to very consistent revenue and EPS growth over the long term, which makes it unique among its peers.”
Tim Anderson, Bernstein analyst.
Sanofi sees relief from patent loss pain (Reuters)
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