- Sanofi (SNY) Q4 adjusted, or "business net profit" rose 17% to €1.81B, coming in slightly below consensus of €1.82B.
- Net sales dropped 0.8% to €8.46B.
- Net profit jumped to €1.06B ($1.43B) from €388M a year earlier.
- Earnings were boosted by double-digit growth in sales of Lantus, Sanofi's blockbuster diabetes drug, revenue growth at its Genzyme rare-diseases unit, and a gradual recovery in Brazil and China. Cost cuts also helped.
- However, falling revenue from Sanofi's vaccines and animal health units, and currency fluctuations, hurt the firm's performance.
- The company expects business EPS to increase 4-7% at constant exchange rates in 2014, boosted by its "growth platforms" and new drug authorizations. It helps that Sanofi is beyond its patent cliff.
- Sanofi declared a dividend of €2.80 a share for 2013 vs €2.77 in 2012. (PR)
Sanofi profit jumps to €1.81B but revenue falls
Feb 6 2014, 04:29 ET