Sanofi's 1995 1st Half Ahead Of Forecasts

Net profits for the first six months of 1995 soared 21% at Sanofi of France to 555 million French francs ($109.8 million), driven by the acquisition of Sterling Winthrop's prescription pharmaceuticals business in the second half of 1994 and good performances by all business segments, according to the company.

Sales for the half year amounted to 11.3 billion francs, down 7.8%, or an increase of 3.6% on a comparable basis. Human health care sales advanced 5% on a comparable basis, with a good level of activity and a broadened business scope, said Sanofi. The pharmaceuticals business was said to have benefited from growth in the European and North American markets.

R&D expenditure rose 25% to 1.5 billion francs as a result of the inclusion of clinical development costs previously borne by Sterling Winthrop. Group operating profit, including R&D expenditure at 1.6 billion francs, was up 52.4%. Exclusive of R&D, operating profit reached 1.45 billion francs.