Sanofi profit jumps to €1.81B but revenue falls

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)

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