Sanofi's First Half 1997 Net Earnings Rise 10%

French drugmaker Sanofi reports net earnings for the first six months of1997 of 1.06 billion French francs ($171.7 million). The company notes that excluding the impact of net capital gains on disposals of businesses, net earnings were up 10% on the corresponding year-earlier period. Operating income, however, was down 3% at 1.55 billion francs. First-half sales rose 7% to 12.11 billion francs ($1.97 billion). Sanofi's R&D spending increased 10% to 1.79 billion francs.

The group's pharmaceutical business benefited from the sales growth of major established products, with the leading 10 registering a growth rate of 12%. Sanofi's top four products - Ticlid (ticlopidine), Depakine (sodium valproate), Cardarone (amiodarone) and Fraxiparine (nadroparin) - saw turnover rise 25%.

Sanofi also notes the worldwide filing for marketing approval of its antihypertensive agent irbesartan, with European approval for the first-line treatment of hypertension obtained on August 27 (see page 19). The product will be marketed in Europe under the names Aprovel and Karvea, and in the USA as Avapro. Sanofi points out that considerable commercial resources will be required to ensure the successful launch of the product, and is strengthening its marketing structures and sales networks accordingly, which will have a temporary impact on its pharmaceuticals business' operating profits.