Pharma Operations Boost Sanofi 1994 Results

1994 was a year of change for French health and beauty care company Sanofi. As well as divesting its Bio-Activities business and some perfume and beauty product brands, it acquired Sterling Winthrop's prescription pharmaceuticals operation, and is now finalizing the sale of its veterinary products business in the Americas and Asia to Rhone-Merieux.

The result was an 11% rise in net sales at 26.11 billion French francs ($5.22 billion) and a 13% increase in net earnings excluding non-operating items at 1.33 billion francs ($263.5 million). Net earnings including non-operating items increased 83% to 1.51 billion francs. R&D spending rose 14% to 2.84 billion francs.

Sales of human health care products increased 17.7% to 14.8 billion francs, mainly as a result of the inclusion of the whole Sterling Winthrop Rx drug business (previously there had been the Sanofi Winthrop alliance) in the last quarter of the year. Excluding this, sales rose just 3.5%.