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Sanofi (SNY) Q1 business net income falls to €1.61B (-12% Y/Y), or €1.22 per share,...

Sanofi (SNY) Q1 business net income falls to €1.61B (-12% Y/Y), or €1.22 per share, missing estimates . Revenue falls to €8.1B, missing by €200M . Results reflect the expiration of patents on Plavix and Eloxatin as well as U.S. generic competition for Avapro. All told, generic competition cost the firm more than half a billion euros in the quarter. The company also appoints two new executive committee members.
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