The logo of French drugmaker Sanofi is seen a the Sanofi Genzyme Polyclonals in Lyon, France, September 30, 2023. REUTERS
April 25 (Reuters) – Sanofi (SASY.PA), reported on Thursday that its first-quarter operating income declined 14.7%, as unfavorable currency effects and cheap competition to multiple sclerosis drug Aubagio outweighed rising sales of anti-inflammatory drug Dupixent.
The French drugmaker said in a statement that operating income, adjusted for one-offs, slipped to 2.84 billion euros ($3.04 billion), a touch above the 2.79 billion euros expected on average by analysts in a poll on the company’s website.
The company reiterated it expects 2024 adjusted earnings per share (EPS) to slip by a “low single-digit” percentage, excluding currency swings, citing higher taxes and an increase in development expenditure.
Currency changes would drag 2024 earnings lower by between 5.5% and 6.5% at current rates, it added. Finance chief Francois-Xavier Roger said in a media call that the decline in the Argentine Peso was a particular drag on first-quarter overseas sales.
Quarterly sales of eczema and asthma drug Dupixent jumped a currency-adjusted 25% to 2.84 billion euros, in line with analyst expectations and accounting for 27% of group sales.
CFO Roger, previously at Nestle (NESN.S), said that preparations to list the Consumer Healthcare division on the Paris stock exchange from the fourth quarter were fully on track but other options, such as a sale, were not off the table.
Doctors hope this robot can help reduce safer and more accurate lung cancer diagnoses. With 125,000 people in the U.S. dying each year of lung cancer according to the National Cancer Institute –
($1 = 0.9338 euros)
Keep up with the latest medical breakthroughs and healthcare trends with the Reuters Health Rounds newsletter.
Reporting by Ludwig Burger; Editing by Benoit Van Overstraeten and Subhranshu Sahu
-Advertisement-
