Sanofi says 3rd-qtr profits down, but sees end to patent cliff period

French drug major Sanofi (Euronext: SAN) this morning posted third-quarter 2013 results with a fall in profitability despite a slight sales increase, but saying it now sees the end of the patent cliff effect on its performance.

Sales for the three months rose 0.6% to 8.43 billion euros ($11.63 billion), whereas for the nine months net sales were down 2.8% at 24.49 billion. Business net income came in at 1.79 billion euros, down 8.9% with business earnings per share at 1.35 euros, a decline of 9.0%, but again an improvement on the nine-month declines of 19.1% and 19.3%, respectively.

Analysts polled by Thomson Reuters I/B/E/S on average had forecast sales of 8.55 billion euros and EPS of 1.43 euros. The company’s stock edged 1.1% higher to 76.53 in early trading.