Sanofi’s 4th-qtr results hit by falling diabetes sales

9 February 2016

French pharma major Sanofi (Euronext: SAN) posted disappointing financial results for 2015, with fourth-quarter sales down 1.6% at 9.28 billion euros ($10.34 billion) and business net income fell 13.5% lower (at constant exchange rate)s to 1.71 billion euros. Business earnings per share came in at 1.31 euros, down 5.8% (-12.9% at CER). Net profit fell 75% to 334 million euros.

Sales were impacted by increased pricing pressure in the US diabetes market and higher accounting charges. .Revenues were also impacted – to the tune of 122 million euros - by the voluntary recall of Auvi-Q/Allerject in the USA and Canada announced on October 30, 2015. The average expectations of analysts polled by Reuters in partnership with Inquiry Financial had been for business net profit of 1.69 billion euros and net sales of 9.34 billion or the quarter. Sanofi’s shares edged 0.49% higher on the Paris exchange to 70.25 euros by 09.16 CET.

Look out for update later this morning.

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